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Eaton Vance launches Multi-Asset Credit Fund

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Eaton Vance Management (International) Limited (EVMI) has launched the Eaton Vance (Ireland) Multi-Asset Credit Fund (the “Fund”), a sub-fund of Eaton Vance Institutional Funds Plc, which is available to investors in the UK and Ireland, with forthcoming registration in other jurisdictions. 

The Fund is a regulated, Irish domiciled qualifying investor alternative investment fund (QIAIF) and complies with the Alternative Investment Fund Managers Directive (AIFMD).

In an uncertain market for traditional core fixed income asset class returns, this strategy seeks to provide investors with broad exposure to the global  sub-investment grade credit markets, principally through higher yielding credit assets including global high yield bonds and floating-rate loans. Up to 40 per cent of the fund’s assets may be allocated to opportunistic and risk-reducing fixed income asset classes.   The strategy will also be available to investors as a customisable segregated mandate. 

The Fund’s co-portfolio managers are Jeffrey Mueller, Vice President, Justin Bourgette, CFA, Vice President, and John Redding, Vice President. The Fund will be  managed in a way that draws on Eaton Vance’s breadth of investment expertise and capabilities, based on the ‘intelligent integration’ of top-down and bottom-up inputs to optimise portfolio construction.

Eaton Vance is a leading manager of global leveraged credit and has been managing multi-asset credit vehicles since 2003, high yield bond investments since 1982 and floating rate loans since 1989. Global leveraged credit assets totalled USD45.3 billion (USD) as of 30 April 2016. 

The launch follows the March publication of a ‘Made Simple Guide’ which makes the case for investing in multi-asset credit strategies. Published in partnership with the Pensions and Lifetime Savings Association, the guide explains how multi-asset credit strategies may address many of the evolving needs of pension funds.

Payson Swaffield, Chief Income Investment Officer of Eaton Vance Management, says: “Eaton Vance is an experienced manager of investments across the global credit spectrum. Bringing our multi-asset Credit capability to investors in a QIAIF structure is a natural evolution of our market leadership position in leveraged credit. I am confident that the combination of Jeff, Justin and John will allow us to provide an attractive strategy for investors seeking higher yields and strong, sustainable returns.”

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