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Nomura AM launches ‘strong horse’ Euro HY fund

Nomura AM launches ‘strong horse’ Euro HY fund

Nomura Asset Management has launched a ‘strong horse’ European high yield bond fund, the company has announced.

The Nomura Funds Ireland European High Yield Bond fund will be managed by Nomura Corporate Research and Asset Management (NCRAM), the firm’s specialist boutique focusing on credit investments.

The fund will be led by NCRAM’s executive director and portfolio manager, Steven Rosenthal. He will be supported by a team of 12 credit analysts.

The strategy seeks to capture the European high yield bond market’s attractive total returns, while minimising losses by identifying ‘strong horse’ companies that can carry their debt load through the economic cycle.

Commenting on the launch, Rosenthal said: ‘We believe that European high yield bonds have earned a place in an investor's tactical allocation, offering an attractive portfolio diversification opportunity marked by high risk-adjusted yields, and low default rates. 

‘Monetary policy and its effect on the structure of interest rates will continue to be a major focus. While the lack of inflation is a headwind for monetary tightening, we believe that both the Fed and ECB are poised to begin removing stimulus, and that interest rates will gradually move higher.’

Established in 1991 in New York, NCRAM manages $23.5 billion in total assets.

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