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Ignis to launch absolute return EMD fund
by Emma Dunkley on Jan 11, 2013 at 11:05
Ignis Asset Management is planning to launch an absolute return emerging market sovereign debt fund, Wealth Manager understands.
The fund is expected to be a Sicav launched in the summer for manager Dan Beharall, who joined Ignis at the end of 2010 as head of the emerging market debt (EMD) team.
Beharall has been managing institutional EMD money for the firm’s parent group Phoenix, and this strategy is to be offered to third-party investors in the UK and internationally.
‘Next we are looking to launch an absolute return emerging market government bond fund,’ said chief executive officer Chris Samuel (pictured). ‘We have been running the portfolio for about 10 or 11 months – we’re pleased with it. So there has been no launch to date, but it’s likely to be the next thing we do.’
Samuel emphasised Ignis is focusing on launching products to suit the expected environment and to make superior risk-adjusted returns, rather than just taking market share.
Both absolute return and emerging market products form a significant part of Ignis’ product plans. The firm launched its Absolute Return Government Bond fund in March 2011, run by the firm’s rates team headed by Russ Oxley, which has garnered £557.5 million.
Ignis also unveiled its Absolute Return Credit fund for AA-rated Chris Bowie last year, which is designed to deliver a low level of volatility and low correlation to other asset classes by investing in pair trades via credit default swaps.
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After a record year for inflows and market-leading performance in 2012, emerging market debt has taken a large step towards the mainstream. Our recent debate covers the outlook for the asset class this year and where opportunities can be found.
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