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Neuberger Berman launches absolute return bond fund targeting cash plus 4%
by James Phillipps on Sep 26, 2013 at 07:45
Neuberger Berman has launched a global absolute return bond fund, which aim to generate an annualised return of 4% above cash.
Co-managed by Jon Jonsson and Andy Johnson, the Dublin-domiciled Neuberger Berman Global Bond Absolute Return fund, will be run as an unconstrained strategy investing across the fixed income spectrum.
It is being seeded with $42 million at launch and the group said the fund will look to avoid ‘persistent macro or thematic biases’ and target a low beta over the full market cycle.
Dik van Lomwel, head of Neuberger Berman EMEA and LatAm, said: ‘In common with previous Neuberger Berman product launches, we worked closely with clients to develop this strategy, in this case addressing the increasing demand for absolute return fixed income.’
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