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.

  • 12 Feb 2013

“Most global funds are market-weighted, which means 80% US, 20% Europe,” said Lake, Mirabaud’s 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.

“But Europe ...

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5 Barclays 105,316.67 480 4.36%

Bookrunners of Euro Denominated Corporate IG Bonds

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4 SG Corporate & Investment Banking 20,544.30 110 2.98%
5 HSBC 19,467.45 94 2.82%

Bookrunners of European HY Bonds

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4 Goldman Sachs 24,712.66 181 7.24%
5 Barclays 22,906.34 151 6.71%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Deutsche Bank 28,046.25 103 6.40%
2 BNP Paribas 27,948.80 144 6.38%
3 Barclays 27,259.57 126 6.22%
4 HSBC 25,832.31 126 5.90%
5 Citi 23,312.66 103 5.32%