AXA Investment Managers has rolled out a Europe short-duration high-yield fund, Citywire reports. The Ucits III AXA IM FIIS Europe Short Duration High Yield fund will mostly allocate to short-dated euro and sterling-denominated high-yield corporate bonds.
The average duration of the bonds will be less than two years and target annual returns of 5 percent to 6 percent, net of fees. The Luxembourg-domiciled portfolio will be managed by AXA’s head of European high yield Andrew Wilmont.
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