PSigma seeds TwentyFour Asset Backed Income fund

Psigma Investment Management has teamed up with TwentyFour Asset Management to seed a new fund for its clients - the TwentyFour Asset Backed Income fund.

The fund will predominately target investment grade assets with a starting yield in excess of 8%, investing across residential mortgage backed and asset backed securities. Psigma has invested £38m of private client money into the fund. Tom Becket (pictured), CIO of Psigma Investment Management, said the fund taps into one of the few remaining yield opportunities in the fixed income space. He added the sector is looking particularly attractive at present, given banks are undergoing a deleveraging process of non-core assets. "The opportunity in this sector is particularly attrac...