Yarra launches Absolute Credit Fund
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 offers access to a proven investment approach, delivered by an investment team that is uniquely positioned to exploit opportunities in Australian corporate credit.
Recommended for you
Australian fund managers are actively seeking to launch Cayman versions of their funds to attract offshore flows, with Regal Partners set to launch its latest offering this month.
As private markets gain traction in Australia but only a limited pool of talent is available, three recruiters explore whether fund managers should consider looking overseas to find top talent.
With an explosion of private credit managers appearing in the market, two alternatives experts believe a consolidation is needed to maintain the quality of the sector.
Bentham Asset Management has become the latest fund manager to expand its distribution team as it reports increased interest in its credit strategies.
