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Lombard Odier 
Lombard Odier has expanded its PrivilEdge open architecture platform with the actively-managed PrivilEdge – Algebris Financial Bonds fund.

The strategy invests primarily in debt securities across bank capital structures focused on Europe. It aims to deliver high income and modest capital appreciation over the medium to long term, the Swiss private banking group said. 

The fund, which focuses on large global and national champion banks, combines strong issuer quality with a low-turnover approach and selective exposure to Additional Tier 1 (AT1) bonds. 

Explaining the strategy rationale, Lombard Odier said that in recent years, European banks have demonstrated a marked improvement in credit quality and profitability. CET1 ratios are at cyclical highs, with the European average at 14.2 per cent, while non-performing loans held on bank balance sheets are at a cyclical low.

Algebris, a European firm headquartered in London, specialises in European financial institutions. 

The fund is registered for distribution in Belgium, France, Germany, Italy, Liechtenstein, Luxembourg, the Netherlands, Spain, Switzerland, and the UK. The fund also offers NAV-hedged share classes in US dollars, Swiss francs, and sterling to meet different currency needs.

Lombard Odier’s PrivilEdge platform has more than 30 funds and SFr9.4 billion (around $12 billion) of assets.