Denmark‘s Sparinvest and San Diego-based Brandes Investment Partners have partnered for a new corporate bond fund, Citywire reports. The Sparinvest-Corporate Value Bonds fund will be co-managed by both the companies fixed income teams, which will apply a bottom-up ‘value bonds’ investment strategy to the global corporate credit universe.
The fund, which will target pension funds and family offices with investment horizons of at least two-five years, will include between 80 and 120 different bonds, adds IPE. The fund will utilize the Barclays Capital Global Aggregate Corporate Index as its benchmark. Brandes will pick the U.S. corporate bonds for the fund’s portfolio, while Sparinvest will select issuers in Europe, Asia and other emerging markets.
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