Algebris launches Long Only Financial Credit UCITS fund

Algebris Investments has launched its Long Only Financial Credit UCITS Fund, an actively managed, long only, corporate credit fund focused on financial credit globally.

The fund seeks to achieve a high level of income and modest capital appreciation by investing in debt and hybrid capital instruments issued by banks and insurance companies, Algebris said.

Specifically, the fund invests in the financial sector globally, primarily in debt securities with fixed and variable coupons, rated investment grade or below investment grade.

The fund may also invest in other financial instruments, including convertible securities (bonds that can be converted into shares), hybrid securities (instruments that combine some of the characteristics of bonds and shares), preference shares, subordinated debt and deposits.

Currency exposure will be systematically hedged, the firms said.

Founded by Davide Serra (pictured), Algebris Investments is a boutique asset manager specialised in financials, with assets of $1.1bn.

“The Algebris Financial Credit UCITS Fund was launched to give onshore long only investors across Europe access to our financial credit expertise and sector focus. We have been managing credit strategies since 2009 and have significantly outperformed the benchmarks. We believe there are very interesting opportunities in this space as the regulation changes brought on by Basel III are rolled out,” Serra said.

 

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