Schroders launches Global Macro Bond Fund on GAIA platform
Schroders launches another internally-managed fund, Schroder GAIA Global Macro Bond (the "Fund"), on its UCITS platform, Schroder GAIA (Global Alternative Investor Access) - a regulated, transparently operated platform for UCITS funds designed to give investors easier access to hedge funds.
The Fund aims to deliver an annualised gross excess return of eight per cent per annum over LIBOR using currency, sovereign and credit strategies, and is scheduled to launch in October 2012.
The Fund will be managed by the Schroders Fixed Income (FI) Multi-sector team, led by Bob Jolly, who joined Schroders in September 2011 as Head of Global Macro and has 30 years' industry experience. The FI Multi-sector team (consisting of ten investment professionals augmented by seven European credit portfolio managers) will seek to generate consistent excess return through diversification of investment style, alpha source and time horizon.
Drawing on the strength of nearly 100 fixed income investment professionals located globally (who manage in excess of £41.6 billion), the FI Multi-sector team has access to regional expertise brought together in a cohesive investment framework, which enables the team to operate without a style bias, despite the prevailing environment.
Eric Bertrand, Director of Schroder GAIA, said: "As a result of the synchronised global financial crisis and ensuing sovereign crisis, the western world is dominated by zero or near zero interest rates combined with decade low government bond yields, rising inflation and the prospect of developed countries defaulting. Against this backdrop, there has never been a better time to invest in a strategy that is global, flexible and uncorrelated to many long-only investment strategies. The launch of Schroder GAIA Global Macro Bond allows us to respond to demands that we are seeing from clients to this effect and utilise currency, credit and sovereign strategies to effectively harness opportunities that may occur through the market cycle."
Bob Jolly, Head of Global Macro at Schroders, said: "The next decade is unlikely to look remotely like the last. While some progress has been made to address the structural imbalances, the years to come will be characterised by shorter and sharper economic cycles. Uncertainty will be very much the norm, with uncertainty comes volatility; such volatility offers many exciting opportunities for experienced active fixed income and currency managers. Schroder GAIA Global Macro Bond is about capturing all available opportunities, utilising excellent portfolio construction and risk management skills, with the ultimate aim of building on strengths demonstrated by our existing successful multi-strategy product offerings."
The Schroder GAIA platform, which was launched in November 2009 and has reached $1.42 billion in assets under management, combines the strength of Schroders' renowned asset management experience with specialist hedge fund expertise. Combining strength and innovation, Schroder GAIA offers access to liquid alternative investment strategies within a UCITS regulated mutual fund framework. Schroders has four funds on the platform, two managed by external hedge fund managers (Schroder GAIA CQS Credit and Schroder GAIA Egerton Equity) and two managed internally (Schroder GAIA QEP Global Absolute and the new Schroder GAIA Global Macro Bond).