Thames River is to bolster its fixed-income offering with two credit funds.
The credit select and global credit funds will both be introduced on October 23 and will be managed by Stephen Drew and Mehrdad Noorani.
The credit select fund will invest in high-quality developed market corporate bonds, which will typically have an A credit rating. The fund may also invest up to 10 per cent in crossover credit. Credit select will use hedging techniques and has a target yield of 4-5 per cent per annum.
The global credit fund targets a 6.5 per cent yield and will invest in corporate bonds with an average credit quality of BBB or greater on a global basis. It can invest up to 40 per cent in strong high yield and emerging market credits.