Loomis Sayles (Australia), which already manages $400 million in fixed interest mandates for Australian investors, has launched its first pooled product, a global active fixed interest fund seeded with $25 million from the Stevedoring Employees Retirement Fund.
Loomis Sayles (Australia) associate director Karyn West says two more institutions are poised to invest in the fund, called the Loomis Sayles Global Corporate Bond Fund.
The new fund is being offered under the umbrella fund of Loomis Sayles’ parent, French group CDC IXIS Asset Management. West expects to launch further global products managed by units of this group.
The new fund aims to provide a high total return through a combination of high current income and capital appreciation. It will mainly invest in investment grade bonds and securities issued by corporations around the world. It may also invest up to 20 per cent in below investment grade securities (rated BBB minus to B minus) and emerging markets.
Although nothing is finalised, West believes a global bond fund that also includes sovereign bonds might be the next products launched into Australia by Loomis Sayles.
