News
ODDO BHF AM continues a success story with the launch of ODDO BHF Global Credit Short Duration
29 October 2018, Düsseldorf, Frankfurt, Paris.
After the success story of ODDO BHF Euro Credit Short Duration whose assets currently total over EUR 1.8 billion, ODDO BHF Asset Management expands its franchise by launching ODDO BHF Global Credit Short Duration. The fund has been launched on 22 October 2018 and has already raised more than EUR 65 million.
The fund gives access to a globally diversified portfolio of short-dated corporate bonds*. Based on a GDP weighted allocation the fund will invest across the three main regions: Europe, Americas and Asia. Additional value can be generated through flexible allocation across
countries and regions.
Short-dated corporate bonds offer an attractive risk-return profile in the current low-interest environment. As the risk of default decreases over time, strategies focusing on shorter maturities benefit from lower default risk while yields are still at an attractive
level. At the same time, shorter maturities are less sensitive to interest rate and spread moves. ODDO BHF Global Credit Short Duration is managed in Düsseldorf by Alexis Renault, Global Head of High Yield at ODDO BHF AM with the support of Janis Heck and Ivan Romanenko and a team of 13 portfolio managers and analysts. The fund will invest predominantly in high-yield bonds with a rating of at least B3 or B- but can increase the portion of investment-grade securities to up to 100% depending on the credit cycle. Since the launch of the first high yield strategy in 2000, the team has not experienced a single credit default. "The reason for this investment success is a thorough fundamental credit analysis of issuers by our specialized investment team," explains Alexis Renault. "Not only does this approach minimize the risk of credit defaults, it also enables us to identify attractive entry points for buying". The team of Alexis Renault
manages a total of EUR 2.5 billion in credit short duration strategies.
ODDO BHF Global Credit Short Duration has been registered for distribution in Germany, Austria, France and Spain. It is available in the form of distributing and accumulating share classes for both private and institutional investors.
*75% of the bonds will have a remaining maturity of less than 5 years
CV of Alexis Renault
Alexis Renault, CFA has been Global Head of High Yield at ODDO BHF Asset Management since 2015. He has been working with the company and its predecessor companies since 1999. He was been in charge of managing High Yield portfolios since 2000 and was head of High Yield since 2010. Alexis Renault began his career as a credit analyst at WestLB in Paris.
He holds a master’s degree from the University of Paris II Panthéon-Assas and ESLSCA.
About ODDO BHF Asset Management
ODDO BHF AM is part of the independent Franco-German financial group ODDO BHF that was founded in 1849. ODDO BHF AM is an independent asset management leader in Europe. The asset management of the ODDO BHF Group comprises ODDO BHF AM GmbH in Germany, ODDO BHF AM SAS and ODDO BHF Private Equity SAS in France, which together manage assets totaling € 61.6 billion. ODDO BHF AM offers its institutional and wholesale clients a unique range of high-performance investment solutions in all main asset classes, i.e. European equities, quantitative strategies, fixed income, multi-asset solutions and private equity. On a combined basis, 70% of assets under management are from institutional clients and 30% from distribution partners. The teams operate from investment centers in Dusseldorf, Frankfurt and Paris with additional locations in Luxembourg, Milan, Geneva, Stockholm, Madrid, Hong Kong, Abu Dhabi and Zurich. ODDO BHF AM puts the long-term support of its clients at the heart of its priorities. Its independence allows its teams to be responsive, flexible and innovative in order to constantly find solutions tailored to the customers’ needs.
About ODDO BHF
ODDO BHF is an independent Franco-German financial services group, with a history stretching back over 160 years. It was created from the alliance of a French family-owned business built up by five generations of stockbrokers and a German bank specialising in Mittelstand companies. With 2,300 employees (1,300 in Germany and 1,000 in France and Tunisia), and more than 100 billion euros in assets under management, ODDO BHF operates in three main businesses, based on significant investment in market expertise: private banking, asset management and corporate and investment banking. The Group has a specific ownership structure as 60% of its capital is held by the Oddo family and 30% by employees. This “partnership” ethos guarantees the long-term involvement of its teams. In 2017, ODDO BHF generated net banking income of 591 million euros, and at 31 December 2017, the Group had over 844 million euros of shareholders' equity.
Press contact
CITIGATE DEWE ROGERSON
Yoann Besse / Laurence Duhamel
+33 1 53 32 78 89 / +33 1 53 32 84 73
[email protected]
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