Ignis Asset Management is pleased to announce the launch of the Ignis Absolute Return Emerging Market Debt Fund. The fund, which will begin with an initial $100 million investment, is based on a strategy that has been run for an institutional client since January 2012.

The fund is lead managed by Dan Beharall, Head of Emerging Markets Fixed Income, who joined Ignis in December 2010 having previously worked for Henderson Global Investors. Dan is supported by Sailesh Lad, Deputy Portfolio Manager, and Mikhail Volodchenko, Market Analyst.

The fund aims to deliver a positive total return in excess of cash1 on a rolling twelve month basis, independent of bond market conditions, by taking long or short net exposures to emerging market fixed interest securities and to foreign exchange and financial derivative instruments. The fund will appeal to investors who are seeking an absolute return from exposure to emerging market bonds through a proven, low volatility investment strategy.


Fund facts

Fund name Ignis Absolute Return Emerging Market Debt Fund

Objective The objective of the fund is to deliver positive total returns independent of bond market conditions by taking conviction positions in emerging market fixed interest securities, foreign exchange and financial derivative instruments although there is no guarantee that this will be achieved

Lead manager Dan Beharall, Head of Emerging Markets Fixed Income
Launch date 26 November 2013
Domiciled / legal form Luxembourg SICAV / UCITS
Sector IMA Targeted Absolute Return
Benchmark Cash (appropriate benchmark for each currency share class)1
Share classes Class C (clean) / Class I (institutional) / Class SI (super institutional)
Management fee Class C, 0.90% / Class I, 0.65% / Class SI, 0.55%
Performance fee 10% performance generated above cash rate 1 subject to a high watermark being achieved. Performance fees are accrued daily and paid annually
Valuation frequency Daily
Base currency USD
Currency I-class and SI-class: USD/GBP hedged/EUR hedged/CHF hedged/SEK hedged/JPY hedged
C-class: GBP hedged/EUR hedged


Source:

1Whilst the fund aims to deliver a return in excess of cash, this is not guaranteed. The cash level is based on the overnight rate (appropriate benchmark for each currency share class). This is the rate that large banks use to borrow from, and lend to, one another on the overnight market. GBP is SONIA (Sterling OverNight Index Average), Euro is EONIA (Euro OverNight Index Average), USD is Federal Funds Effective Overnight Rate, SEK is STIBID (Stockholm Interbank Bid Rate), CHF is SARON (Swiss Average Rate Overnight) and JPY is Bank of Japan Uncollateralized Overnight Call Rate.