HSBC launches short duration high yield fund for Bowers

HSBC Global Asset Management has launched the GIF Global Short Duration High Yield Bond fund for recent hire Mary Bowers.

The new fund is domiciled in Luxembourg and UCITS compliant, investing at least 90% in bonds denominated or hedged into US dollars. Bowers joined from Artio Global Investors, a subsidiary of Aberdeen Asset Management, earlier this month. She has taken the role of high yield specialist and is also managing the $1.1bn GIF Global High Yield Bond and the $20m GIF Global Short Duration HY Bond funds. The new portfolio will hold 70-100 high yield US and European corporate issues, with final maturity or expected call dates within three years and an average rating of BB or BBB. The benc...