Eaton Vance launches multi-asset credit fund
Eaton Vance Management (International), a branch of Eaton Vance Management, has launched the Eaton Vance (Ireland) Multi-Asset Credit Fund.
This sub-fund of Eaton Vance Institutional Funds Plc is available to investors in the UK and Ireland and registrations in other countries are on the way.
The strategy dwells in an Irish domiciled qualifying investor alternative investment fund (“QIAIF”) and complies with the Alternative Investment Fund Managers Directive (“AIFMD”).
Eaton Vance’s multi-asset fund aims to provide investors with broad exposure to the global sub-investment grade credit markets.
Investments will be done primarily in higher yielding credit assets including global high yield bonds and floating-rate loans.
Up to 40% of the fund’s assets may be allocated to opportunistic and risk-reducing fixed income asset classes, the firm specified.
The strategy will be co-managed by Jeffrey Mueller, Vice President, Justin Bourgette, CFA, Vice President, and John Redding, Vice President.
Payson Swaffield, chief income investment officer of Eaton Vance Management, commented: “Bringing our multi-asset credit capability to investors in a QIAIF structure is a natural evolution of our market leadership position in leveraged credit.
“I am confident that the combination of Jeff, Justin and John will allow us to provide an attractive strategy for investors seeking higher yields and strong, sustainable returns.”
Launched in 1924, Eaton Vance had $318.7bn (€282.3bn) in assets as of 30 April 2016.