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Switzerland : FLEXIBLE credit fund launched by Syz Co

June 21, 2014

Syz & Co has introduced a fund which intends to offer a absolute return through a credit strategy combining European corporate bonds and flexible hedging of market exposure.

The Oyster Flexible Credit Fund is a sub-fund of the Swiss banking group s Luxembourg SICAV Oyster.

Eiffel Investment Group, a Paris-based management company, will deal with the mixed asset fund.

It had 20m in assets under management and an ongoing charges figure of 1.4% for retail investors and 1.25% for institutional investors at its launch on 30 May.

The company said the fund is a so-called NewCITS product, which takes advantage of the changes in the European UCITS standard to propose an unconventional strategy that effectively meets investors expectations".

It said that the fund will take advantage of the opportunities provided by the expanding European corporate bond market, which currently contains 2.2bn of outstanding corporate bonds and loans. It is hoped that the fund will take advantage of under-valued and poorly understood bonds.

The company added that the fund will use a bottom up approach, where the portfolio should number between 30 and 40 positions in credit instruments of European companies and financial institutions at any given time.

Syz & Co's Oyster European Selection Fund earlier this month was made available to retail investors.

The 600m SICAV, managed by Eric Bendahan, was earlier only provided to institutional investors, however it is at present available to the public. The fund has returned 83.6% since it was introduced in 2011.

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Source: TendersInfo (India)

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