Syz & Co adds distribution class to two Oyster funds
Geneva-based banking group Syz & Co has introduced income distribution share classes for two of its Oyster funds – Oyster European Corporate Bonds and Oyster Global High Yield.
Oyster is an investment fund range focusing strongly on active management of investment performance. The Luxembourg SICAV comprises 25 sub-funds and is currently registered and distributed in various Asian and European countries.
Oyster is ranked in the top 20 preferred fund brands by European fund distributors, according to the Fund Buyer Focus 2011 ranking.
The new share classes meet a growing demand for funds that pay out their income at a time when interest rates stand at all-time lows, Syz & Co says.
Oyster Global High Yield is managed by Seix Investment Advisors, a specialist US based fund manager. Income is paid monthly.
Oyster European Corporate Bonds adopts an opportunistic management style and active approach that is not constrained by a benchmark index.
The latter fund ranked in the top quartile year to date, as well as over one and five year periods. Income is paid out once a year.
Other income distribution classes will be subsequently added to other Oyster funds, the firm says.
The Swiss banking group Syz & Co manages CHF25bn (€19.5bn) from its headquarters in Geneva and other Swiss offices in Zurich, Lugano and Locarno, as well as its global offices in Milan, Rome, Madrid, Bilbao, London, Luxembourg, Paris, Nassau and Hong Kong.