Brookvine partners with Chilean manager
Brookvine has announced its partnership with Chile-based asset manager specialising in Latin America, Moneda Asset Management, under which it will bring a high yield investment opportunity to Australian investors.
The Moneda Latin American Corporate Debt Fund is a high yield bond fund in US dollar-denominated corporate credit of companies across Latin America. The strategy has a 19-year track record and returned 12.5 per cent per annum since its inception in February, 2000.
According to Brookvine’s chief executive, Steven Hall, Latin America was a region that represented a thriving cluster of economies where most countries were still in expansion phase while total middle-class income across the region was higher than in China.
“For investors seeking to enhance returns, the Moneda Latin American Corporate Debt Fund has delivered significantly higher returns than emerging market equities with lower volatility over the period since the strategy’s inception,” he said.
“At a time when high yielding assets are hard to find, LatAm high yield is a unique way to unlock from an overlooked asset class.”
Moneda’s senior partner and head of fixed income LatAm investments, Fernando Tisné, added that the LatAm universe offered higher yields, had lower leverage and higher corporate cash levels than the US, with default rates in line with developed markets.
The fund would be distributed to institutional investors in Australia and New Zealand through Brookvine.
Recommended for you
Platinum Asset Management has put its two closed-end funds under strategic review in a bid to reduce the share price discount to pre-tax NTA and maximise shareholder value.
In the latest Meet the Manager profile, Money Management speaks with Michael Skinner, founder and managing director at Blackwattle Investment Partners.
Perpetual has seen AUM rise 6 per cent in the last quarter but the departure of a longstanding JOHCM fund manager led to outflows of $2.2 billion from his strategy.
Global fixed income fund Bentham Global Opportunities has been added to several major platforms, enabling it to be accessed more easily by financial advisers.