Eaton Vance offers new Irish-based multi-asset credit fund

Added 20th June 2016

Eaton Vance Management (International), a subsidiary of US-based Eaton Vance Corp, has launched a multi-asset credit fund which is available to investors in the UK and Ireland with further jurisdictions planned.

Eaton Vance offers new Irish-based multi-asset credit fund

The new Eaton Vance (Ireland) Multi-Asset Credit Fund aims to provide investors with a broad exposure to the global sub-investment grade credit markets, principally through higher yielding credit assets including high yield bonds and floating-rate loans.

Up to 40% of the fund’s assets could be allocated to opportunistic and risk-reducing fixed income asset classes. The strategy will also be available to investors as a customisable segregated mandate. 

The fund is a regulated, Irish-domiciled qualifying investor alternative investment fund (QIAIF) and complies with the Alternative Investment Fund Managers Directive (AIFMD). It will be co-managed by Jeffrey Mueller, Justin Bourgette, and John Redding.

Eaton Vance is a leading manager of global leveraged credit and has been managing multi-asset credit vehicles since 2003, high yield bond investments since 1982 and floating rate loans since 1989. Global leveraged credit assets totalled $45.3bn (£29.6bn, €38.4bn) as of 30 April 2016.

Pension demand 

The new fund launch follows the March publication of a ‘Made Simple Guide’ which makes the case for investing in multi-asset credit strategies. Published in partnership with the Pensions and Lifetime Savings Association, the guide explains how multi-asset credit strategies may address many of the evolving needs of pension funds.

Payson Swaffield, chief income investment officer of Eaton Vance Management, said: Eaton Vance is an experienced manager of investments across the global credit spectrum. Bringing our multi-asset credit capability to investors in a QIAIF structure is a natural evolution of our market leadership position in leveraged credit.”

Eaton Vance, whose history dates back to 1924 managed $318.7bn in assets as of 30 April 2016, offering individuals and institutions a broad array of investment strategies and wealth management solutions.

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Richard Hubbard

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Richard Hubbard is the group editor at Last Word. He is responsible for the editorial content of International Adviser, Portfolio Adviser, Expert Investor and Fund Selector Asia. Richard previously worked for Thomson Reuters and has covered the financial services industry and investment themes from its offices in London, Singapore, Hong Kong and New York. Richard started his career at the Australian Financial Review in Sydney.

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