Wells Fargo Asset Management (WFAM) has expanded its Global Investment Grade Credit Strategy with the launch of the Global Investment Grade Credit Fund, a sub-fund of the Wells Fargo (Lux) Worldwide Fund.
The Global Investment Grade Credit Fund represents WFAM’s latest offering of global strategies, strengthening its suite of solutions in a UCITS fund format. On 8 November, WFAM launched a number of share classes for the Global Investment Grade Credit Fund, including Class Z (USD, EUR, GBP, CHF) and Class I (USD, EUR, GBP, CHF). The Global Investment Grade Credit Fund is managed by WFAM Portfolio Managers Henrietta Pacquement, CFA, Scott Smith, CFA, Jonathan Terry, CFA and Alex Temple, CFA.
The Fund launch follows a recent announcement by Nest Corporation, the Trustee that runs the Nest pension scheme in the United Kingdom, that it has appointed WFAM to manage a Global Investment Grade Credit Strategy. Nest plans to allocate approximately GBP500 million of its assets over the next 12 months to the mandate, which has been designed specifically to adhere to Nest’s environmental, social and governance (ESG) requirements.
“The Global Investment Grade Credit Strategy and our work with Nest offer great examples of Wells Fargo Asset Management’s commitment to meet our clients’ unique needs, and our enhanced commitment to the U.K. and the defined contribution marketplace,” says Deirdre Flood, Head of WFAM’s International Client Group. “We are honoured and excited to work with Nest and its members to help them reach their retirement goals.”
The Fund’s objective is to seek total return, maximszing investment income while preserving capital through disciplined security selection, a rigorous fundamental research process, and opportunistic relative-value assessment. The global investment-grade credit universe offers a broad universe for diversification across currencies, countries, sectors and maturities. By coupling a global approach to portfolio construction with local-market execution expertise, the strategy seeks to take advantage of inefficiencies in the global investment-grade credit market in an attempt to generate alpha. The Fund is available in Austria, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, United Kingdom, South Korea and Singapore.