Citywire Selector - For Professional Investors

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

US group reworks star duo’s HY fund

US group reworks star duo’s HY fund

US asset manager Putnam Investments has reworked a European high yield bond fund overseen by its co-head of fixed income to allow it to appeal to broader range of investors.

The move saw the Putnam New Flag Euro High Yield fund rolled into the newly-launched Putnam European High Yield fund in mid-July, Citywire Selector has learned.

The fund had existed in a Dublin-domiciled format since 2008 but, it is understood, the structure was reworked to allow it to make it more accessible to a wider investor base.

This saw it relaunched as the Putnam European High Yield fund, which continues to be overseen by Citywire + rated Paul Scanlon, who is co-head of bonds, and portfolio manager Yannick Aron, who is Citywire A-rated.

It is understood the ‘New Flag’ moniker referenced a legacy, which is now being dropped, while the fund currently has €15.3 million in assets and this is expected to be increased under its new format.

In the three years to the end of June 2017, the Putnam New Flag Euro High Yield fund returned 8.9% in euro terms, while the BofA Merrill Lynch Euro High Yield TR, its Citywire-assigned benchmark, rose 14.5% over the same timeframe.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Events
  • Citywire Alternative Ucits Retreat 2017

    Citywire Alternative Ucits Retreat 2017

  • Citywire Milan 2017

    Citywire Milan 2017

  • Citywire Paris 2017

    Citywire Paris 2017

  • Citywire Deutschland 2017

    Citywire Deutschland 2017

  • Citywire DACH 2017

    Citywire DACH 2017

  • Citywire Italy 2016

    Citywire Italy 2016

  • Citywire Milan 2016

    Citywire Milan 2016

  • Citywire Alt Ucits 2016

    Citywire Alt Ucits 2016

  • Citywire Berlin 2016

    Citywire Berlin 2016

  • Citywire Switzerland 2017

    Citywire Switzerland 2017

  • Citywire Amsterdam 2016

    Citywire Amsterdam 2016

  • Citywire Montreux 2016

    Citywire Montreux 2016

  • Citywire Deutschland 2016

    Citywire Deutschland 2016

  • Citywire Latin America 2016

    Citywire Latin America 2016

  • Citywire Milan 2016

    Citywire Milan 2016

  • Citywire Munich 2016

    Citywire Munich 2016

  • Citywire Paris Alt Ucits 2016

    Citywire Paris Alt Ucits 2016

  • Citywire Zurich Alt Ucits 2016

    Citywire Zurich Alt Ucits 2016