BlueBay Asset Management is considering expanding its range of capital-protected credit and fixed-income funds into the U.S. market. The London-based fund manager, with over USD6 billion under management, opened an office in New York earlier this year, headed by Andrew Campbell.
Campbell said BlueBay has spent the last few months introducing U.S. investors to the funds and its brand name, as well as getting legal documentation in place. The fund manager has talked to both dealers and potential investors about issuing capital-protected notes. These would likely to be linked to its emerging markets funds, said Campbell. BlueBay has spoken to insurance companies in particular, he noted, which are interested in investing in notes linked to the funds because the capital requirements for fund-linked notes are less than those for direct fund holdings.
The initial structuring would be done by Alex Khein, head of structured products in London, and his team. But Campbell added he could envisage a time when a structurer would be hired for the New York office. Campbell declined to name the dealers BlueBay is talking to on the project.
