Muzinich & Co, the
specialist fund manager, has created an income share class for its $411 million
Transatlanticyield Fund, tapping what it sees as demand for this source of
returns by clients.
The new share class will make
half-yearly income payments. The minimum investment is £100,000 ($156,988) but retail and “super”
institutional share classes – the latter offering lower charges but with a £1 million
minimum investment – can be created upon demand.
“In the current low-growth
environment, yield is becoming increasingly important. However, it is harder to
come by from traditional sources such as equity income stocks, government and
investment grade bonds,” Joshua Hughes, Muzinich & Co UK
institutional sales director, said.
“High yield is transitioning
from an asset class that has historically been viewed as a tactical allocation
to more of a long-term holding within diversified portfolios,” he said.
Muzinich & Co
concentrates on corporate credit and credit-oriented strategies; it oversees
around $17 billion in assets.