French boutique Anaxis Asset Management has expanded its target-dated bond fund range with the launch of a US-focused strategy investing in corporate bonds that mature in 2021.
The newly launched fund, which is called US Bond Opp. 2021, is a France-domiciled fund, but it is Ucits compliant.
It is designed to further expand the group’s bond fund coverage, which includes the Anaxis Bond Opportunity US 2017 fund.
This new approach will invest in the industrial and non-financial service sectors, primarily in the US. It will operate with a wide diversification to limit concentration risk.
In a statement announcing its launch, Anaxis AM said: ‘The yield spread between US and European bonds has widened sharply over the past two years, to the benefit of US yields due to the strength of the US economy.’
It will be run on a team basis and Anaxis AM said the fund’s fixed maturity and low duration is designed to offer investors protection against interest rate fluctuations.
The existing Anaxis Bond Opportunity US 2017 fund was launched in December 2012. This fund is set to mature in December of this year. It currently has around 15% of its assets in cash, with telecoms and pharma the two other largest sectors.