Independent investment manager Neuberger Berman has launched a range of European fixed income strategies for its recently-hired Paris-based team.
The group is launching three new fixed income strategies as Ucits funds – the Neuberger Berman Euro Short Term Enhanced Cash Fund, Euro Opportunistic Bond Fund and Euro Bond Absolute Return Fund.
All three portfolios will be managed by the six-strong team recently hired from BNP Paribas Asset Management. The Paris-based team is led by Patrick Barbe, who has 30 years of investment experience. At BNP Paribas, Barbe was the chief investment officer of euro sovereign and aggregate fixed income.
Dik van Lomwel, head of Europe, Middle East and Africa, and Latin America at Neuberger Berman, said: “We are excited to launch these strategies managed by our new Euro fixed income team, further strengthening and complementing our integrated, global fixed income franchise, and looking to generate yield through a relative value approach.
The three new European fixed income portfolios are sub-funds of the Irish-domiciled Ucits fund umbrella, Neuberger Berman Investment Funds. The sub-funds are registered for sale in the UK and Europe.
Aims and targets
The Neuberger Berman Euro Short Term Enhanced Cash Fund aims to outperform its cash benchmark by 1% over one-year with a volatility limit of 1%.
The Neuberger Berman Euro Opportunistic Bond Fund aims to outperform the BBG Euro Aggregate Index by 1% over three years based on an “high conviction approach”.
The Neuberger Berman Euro Bond Absolute Return Fund aims to outperform cash by 3.5% over a three-year horizon irrespective to market conditions.
Barbe and his team will combine both top-down and bottom-up considerations in constructing fixed income portfolios.
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