Wells Fargo Asset Management has launched a European bond fund aimed at investors seeking higher yields but with limited risk tolerance.
The Wells Fargo EUR Investment Grade Credit fund will be overseen by Wells Fargo subsidiary ECM Asset Management.
They will be supported by the 30-strong global credit research platform and focus on opportunities in higher yielding and intermediate duration investment grade bonds.
The asset manager believes there is a supportive economic environment for corporate credit across the eurozone and demand for investment grade credit is strong thanks to low default rates.
Commenting on the launch, Pacquement said: ‘We see extensive opportunities in the current climate of European credit markets and believe ECM’s seasoned team is well-positioned to generate risk-adjusted returns for our investors.'
The new fund is domiciled in Luxembourg and available for sale in Luxembourg, France, Spain, Switzerland, Austria, Finland, Sweden, Norway, Netherlands, Germany, Ireland, Italy and the UK.