UBP launches frontier markets sovereign bond fund

Managed by Thomas Christiansen

Union Bancaire Privée (UBP) has expanded its sovereign emerging market fixed income offering with the launch of the UBAM – Emerging Markets Frontier Bond fund.

With portfolio management led by deputy head of emerging market fixed income Thomas Christiansen, the fund's investment philosophy rests on the basis that risk premiums are overestimating default probabilities and recovery values, as well as "the window of opportunity offered by the recent market sell-off", according to UBP. High drama in high yield: How Covid-19 and oil crisis double-whammy hit markets The fund will target "low double-digit returns" via a bottom-up approach at country and security level, with a framework designed to address bonds at risk of distress and potential def...