TwentyFour Asset Management has launched its third mandate, the Focus Bond fund.
The fund aims to provide income with capital growth by investing in a range of bonds. These include high yield, investment grade, government and asset-backed securities and alternative fixed-income assets such as emerging market sovereign bonds or bank capital perpetual bonds. Following a flexible strategy to take advantage of changing market conditions, the mandate can also use instruments such as interest rate and credit derivatives to manipulate exposure.
The managers may take synthetic short positions for hedging purposes and to benefit in a falling market, and can hedge exposure in foreign markets.
Benchmarked against three-month sterling London inter-bank offered rate (Libor), the sterling-denominated fund provides semi-annual income distribution.
There is a 5% initial charge and an annual management charge of 0.88%.