Yarra Capital Management has launched its Yarra Absolute Credit Fund for institutional, wholesale and high net worth investors, extending the reach of the strategy which recently became available to the manager’s institutional clients.
The fund seeks to earn higher returns than traditional fixed income by investing in a highly diversified floating rate portfolio of listed and unlisted Australian and New Zealand domiciled credit securities across multi sectors, the manager said.
The fund is led by portfolio manager Phil Strano, who joined Yarra in May 2017 from Victorian Funds Management Corporation, where he ran a similar portfolio. Strano is supported by a five-person fixed-income team overseen by head of Australian fixed income Roy Keenan, Yarra said.
“We are really pleased to be launching the Yarra Absolute Credit Fund, following the positive feedback we’ve received from institutional and high net worth investors seeking access to a floating rate and absolute return credit portfolio in a fund format,” Strano said.
“Yarra’s proven investment processes combined with its broader Australian fundamental research capabilities uniquely positions the firm to take advantage of market mispricing across multi sectors, including unlisted debt, where declining bank participation continues to increase opportunities for institutional investors.
Keenan said the Yarra Absolute Credit strategy has a $1.5 trillion opportunity set and...