A quartet of portfolio managers share their views on subordinated securities, their risks and their attractive yields. For Bill Scapell, the Cohen & Steers SICAV Global Preferred Securities fund’s portfolio manager, preferred securities offer yield, diversification and rate risk mitigation. “Investment-grade preferred securities typically offer some of the highest income rates in high-grade fixed income […]
French investment firm AltaRocca AM, part of Primonial group, has launched the AltaRocca Hybrid Bonds fund, a strategy focusing on perpetual or long duration hybrid bonds, issued by private companies and excluding financials. The effective launch of the France-domiciled fund took place on 13 July 2017. The firm had already expertise in the field of […]
Luca Lionetti, fund manager at Azimut will discuss opportunities in the world of corporate hybrid bonds when he takes part in the upcoming Luxembourg Multi-Assset Roundtable 2017 on 14 February at Le Place D’Armes Hotel. As a fast growing asset class to consider, Lionetti will outline the idea that led to Azimut running the largest hybrid […]
Neuberger Berman has launched a Ucits strategy focused on the non financial corporate hybrid debt asset class. The Neuberger Berman Corporate Hybrid fund is a sub-fund of the Irish-Domiciled Ucits fund umbrella, Neuberger Berman Investment Funds plc. It launched on 19th November with initial seed capital of $21m (€19.6m). It will be registered for sale […]
Deutsche Börse has placed a €600m hybrid bond onto the market, in a bid to refinance existing debt as well as the full acquisition of STOXX AG and Indexium AG. The bond has an aggregate principal amount of €600m and is due in 2041, the first call date being in February 2021. The notes carry […]
Telecom Italia has elected to early redeem all of its outstanding subordinated hybrid securities denominated €750m Capital Securities due 2073, issued last 13 March 2013.
Azimut Holding has launched AZ Fund Hybrid Bonds, its first product investing entirely in hybrid bonds.