Mirabaud launches global high yield fund without US bias
Mirabaud has launched a global high yield fund, which will allocate equal shares of its portfolio to Europe and the US. This underlines fund manager Andrew Lake’s view that the European high yield market offers attractive opportunities.
Most global funds are market-weighted, which means 80% US, 20% Europe, said Lake, Mirabauds head of high yield and senior portfolio manager in London. We felt like that was a historic decision made 10 years ago when the European market blew up, post the telecom/internet crash.
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