The international arm of the US investment house Eaton Vance has introduced the Eaton Vance (Ireland) Multi-Sector Income Fund.

Eaton Vance Management International, a subsidiary of New York-listed Eaton Vance, has launched a multi-sector income fund for UK and European investors.

The Eaton Vance (Ireland) Multi-Sector Income Fund will invest across a range of global income securities, both fixed and floating rate, including corporate bonds, US and non-US government securities, mortgage related and other asset backed securities, as well as convertible securities.

The Irish-domiciled UCITS fund will be run by one of the business's co-directors of diversified fixed income, Kathleen Gaffney, who will be supported by Stephen Concannon, Michael Turgel and Henry Peabody.

The investment team will use a bottom-up security selection and multi-sector approach, targeting returns through a combination of current income and capital appreciation.

“The uncertainty surrounding the Federal Reserve’s interest-rate policy has undoubtedly created a more volatile fixed-income market, which is expected to result in increasing price gaps and the creation of value in the credit markets,” said Gaffney.

“The fund looks to exploit these gaps by using a credit focused multi-sector approach to investing – which we believe is the best way to find opportunity in income markets today.”

Eaton Vance Management International is based in London and provides investment services to banks, other financial institutions and institutional investors globally.