Neuberger Berman has launched a global flexible credit fund in UCITS form to be managed by US-based Dave Brown, Norman Milner and Joe Lynch alongside London-based Vivek Bommi.
Neuberger said the fund would give international investors access to the flexible credit mandates the firm runs on behalf of institutional clients globally.
The Neuberger Berman Global Flexible Credit fund will be a relative value, credit-focused strategy with the flexibility to invest across sectors, rating cohorts and geographies in order to generate durable income and strong total returns over a cycle, Neuberger said.
Brown noted the portfolio would "adapt to changing markets utilising the ‘best ideas' sourced by Neuberger Berman's fundamentally driven research and sector expertise".
Brown continued: "Given where valuations are currently, an investor's ability to have flexible credit selection will be the determining factor to enhance yield and strong total returns as markets gradually normalise against a backdrop of zero bound policy rates."
Head of EMEA and Latin America Dik van Lomwel said the fund had been launched after "ongoing client dialogue" and with over $200m of external seed capital.
"This strategy enables a broader investor universe to gain exposure to the array of opportunities present in global credit markets without being beholden to a quality, sector or regional bias," van Lomwel added.