Bentham Asset Management announces global income PIE fund in NZ
Bentham Asset Management has announced the launch of The Bentham Global Income PIE Fund in New Zealand. Bentham has been managing the underlying strategy (the Bentham Global Income Fund) for almost 20 years.
Monday, April 17th 2023, 10:32AM
by Kerry Meadows-Bonner
The Fund is open to NZ retail (and wholesale) investors. Bentham works closely with financial intermediaries and the fund will be available on a range of New Zealand based investment platforms.
Bentham is launching the fund with New Zealand-based fund-host, FundRock NZ. FundRock, which is the manager and issuer, has appointed Bentham as the investment manager. The fund is structured as a portfolio investment entity and a New Zealand managed fund vehicle.
Bentham chief information officer Richard Quin says “The fund focuses on generating stable investment income by providing diversified exposure to predominately global credit markets. Investments will be actively managed with allocations across different credit sectors, trading of individual securities and managing risk.
“A global focus provides more investment opportunities and diversity compared with the domestic fixed income market. Global credit markets typically offer higher income than traditional fixed interest and equity markets, and low levels of correlation with equities and government bonds, which may improve the risk return profile of a balanced investment portfolio.”
Quin says Bentham has been offering an NZD version of the Global Income Fund for almost 10 years.
“We recognise the growing importance of the New Zealand market and will ensure that we continue to deliver the right solutions to our New Zealand clients. The launch of this fund reiterates our commitment to and support for New Zealand financial intermediaries and their clients.”
Bentham, which was founded by former employees of the Credit Investment Group within Credit Suisse Asset Management, is a specialist fixed interest and credit investment manager. Its investment philosophy is based on a strong credit culture and a systematic investment process, with a focus on preserving principal and protecting against downside risk. The fund has a minimum 50% exposure to investment grade securities.
Quin says, “By drawing on a combination of both internal experience and strong relationships with specialist investment managers, we seek out and identify global investment opportunities.”
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