Tobam launches HY fund to take on passive underperformers

French asset manager Tobam Core Investments opened its first international high yield fund on Monday. The €100m fund aims to go against the grain.

  • By Victor Jimenez
  • 20 Mar 2017
“People are starting to realise that market cap-weighted portfolios on which indices rely allocate risk in a sub-optimal way,” said Tobam’s head of fixed income, Raphaël Thuin, in Paris. “Alternatives to market cap have been around for quite some time in the equity space. Being able to implement such ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Bank of America Merrill Lynch 4,897.24 25 6.92%
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4 Morgan Stanley 3,888.93 18 5.50%
5 BNP Paribas 3,721.14 15 5.26%

Bookrunners of Euro Denominated Corporate IG Bonds

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2 UniCredit 1,892.23 6 4.47%
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4 ING 1,477.05 5 3.49%
5 Mitsubishi UFJ Financial Group 1,455.84 5 3.44%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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1 BNP Paribas 327.97 2 10.84%
2 JPMorgan 315.65 2 10.43%
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5 Bank of America Merrill Lynch 226.61 2 7.49%

Bookrunners of Dollar Denominated HY Bonds

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2 Bank of America Merrill Lynch 1,144.99 10 8.62%
3 Morgan Stanley 1,069.11 7 8.05%
4 JPMorgan 1,064.38 8 8.01%
5 Wells Fargo Securities 882.72 7 6.65%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 2,322.28 8 5.12%
2 UniCredit 1,892.23 6 4.17%
3 Bank of America Merrill Lynch 1,585.30 5 3.49%
4 ING 1,477.05 5 3.25%
5 Mitsubishi UFJ Financial Group 1,455.84 5 3.21%