First State unveils macro absolute return fund for Nutbrown

First State has launched a bond and currency fund for Kieron Nutbrown that will seek worldwide absolute returns.

Nutbrown, the firm’s head of macro fixed income, will run the First State Global Interest Rates and Currency Sicav with the help of a London-based global macro team.

The launch is the first step in a fixed income expansion for the newly formed global macro team, and aims to help investors navigate the world of rising interest rates.

Nutbrown aims to build a stable and robust track record for the new fund over the next year and a half.

First State fixed income chief investment officer Paul Griffiths says: “Establishing this new team and launching the fund are important steps in enhancing our existing business and demonstrates our commitment to offering a range of high quality fixed income strategies to our clients worldwide.”

“This new investment capability is designed to deliver positive absolute returns to investors in low and potentially rising yield environments.”