TwentyFour AM launches new ABS fund
TwentyFour AM, a fixed income boutique of Zurich-based asset manager Vontobel has announced the launch of a new asset backed securities fund aimed at income oriented investors.
The new TwentyFour Monument European ABS fund offers investors access to a portfolio of securitised credit card- and mortgage debt as well as car loans.
It will be managed by Ben Hayward, who heads TwentyFour AM’s eight person strong asset management team.
The fund is domiciled in Luxembourg and offers Euro, Swiss Franc and US Dollar denominated share classes, it is aimed at institutional investors at an annual management fee of 0.50%.
For the last three years, the strategy has offered an annualised gross return of 7.3 percent at a volatility of 2.5 percent and a gross return of 2.4 percent.
TwentyFour AM currently manages CHF12.3bn (€10.79bn) of which CHF6.3bn (€5.52bn) in asset backed securities.