Nomura AM launches lower risk US high yield fund

Low-risk focus

Nomura Asset Management has launched a US High Yield Bond fund to be run by executive director and portfolio manager Amy Yu Chang.

The fund, Nomura's second US High Yield Bond strategy, will focus on a lower-risk segment of the high yield universe than its sister fund, launched in 2009, by investing in a minimum credit rating of B3/B-. The new fund will aim to deliver current yield and capital gains, but will avoid CC-rated and distressed debt names by offering investors a more conservative, quality-driven investment approach. Its overall performance target is benchmark +1% per annum. Has the US high yield market reached a sweet spot? It will be managed by a team led by Chang from Nomura's analyst-driven inves...