Tikehau IM, the Paris-based fixed income specialist, has launched a corporate bond fund maturing on 31 December 2016 with an indicative net annual performance target of 7 per cent.

TK Rendement Fund 2016 will consist of a diverse portfolio of mostly high-yield European bonds. It will be managed actively, readjusting in line with market opportunities and reinvesting its coupons rather than taking a “buy and hold” approach.

Tikehau sees the credit crisis as a medium-term window of opportunity, believing that elevated yields more than compensate for heightened levels of risk.

The firm had over €700 million (about $935 million) in assets under management at 31 October 2011.