Eaton Vance Management International has launched a multi asset credit fund for UK and Irish investors.
The Irish-domiciled fund will include global high yield bonds and floating-rate loans, with up to 40 per cent of the fund’s assets allocated to opportunistic and risk-reducing fixed income asset classes.
While the fund is a QIAIF structure, which can only be marketed to qualifying investors, wholesale investors will be a “key distribution target”.
To qualify wholesale investors, who typically favour Ucits structures, would need to meet the initial minimum subscription requirements of $5m.
The fund’s co-portfolio managers are Jeffrey Mueller, Justin Bourgette and John Redding.
The annual management fee is 0.5 per cent, while other expenses over and above the annual management fee will be capped at 0.15 per cent.