Jupiter Asset Management has launched a Global High Yield Short Duration Bond fund, a sub-fund of the Jupiter Global Fund SICAV.
The fund will be run by Adam Darling, who joined Jupiter four years ago and currently co-manages the Jupiter Corporate Bond fund. Darling is also a senior high-yield credit analyst on Ariel Bezalel's fixed income team.
Bezalel, head of strategy for fixed income at Jupiter, said the fund "is very much a natural next step for Jupiter's fixed income strategy".
"High-yield bonds have been a key component of our unconstrained bond funds for over ten years, meticulously researched and selected by our talented team of credit analysts," Bezalel added.
"Adam has a huge depth of experience in the high-yield space, and we are delighted to launch this new fund under his management, enabling our clients to access a dedicated portfolio of high-yield securities, managed in the same truly active and high conviction style as our existing fixed income suite."
Darling said: "In the prevailing global low yield environment, an optimised and actively managed portfolio of short duration high-yield bonds represents a compelling risk adjusted investment."
Jupiter said the fund will be a high conviction and truly active strategy that will aim to deliver attractive risk-adjusted returns over the medium to long term.
It will hold around 75 bonds, with at least 70% of the portfolio invested in global corporate high-yield bonds that have on average a maturity of no more than five years, looking to achieve income and capital gain over the medium to long term.
While the core of the portfolio will be European the team will seek to optimise risk return by looking globally for the most attractive opportunities, unconstrained by index weights, Jupiter added.