The Dexia Index Arbitrage Fund will now be labelled as the Candriam Index Arbitrage Fund. This UCITS IV fund has over €1.4bn (£1.17bn) assets under management. The fund aims to take advantage of inefficiencies generated by readjustments on the main equity indices.
The Dexia Long Short Credit Fund has been rebranded as the Candriam Long Short Credit Fund. Launched in October 2009, Candriam Long Short Credit is an absolute return UCITS IV fund. It uses arbitrage strategies and directional strategies – both long and short – on corporate bonds and credit derivatives. Currently the fund’s AUM is €800m.
"Alternative investment strategies remain a priority for Candriam in 2014. We have already seen renewed investor interest especially for our Long-Short Credit and Index Arbitrage strategies, which offer an attractive risk/reward profile, and we are working on new strategies linked to new funds in the pipeline for the coming quarters,” Fabrice Cuchet, head of alternative investment strategies, said.
Mutual funds domiciled in France will now be called Candriam, as will Belgian-law funds based on traditional strategies. Open-end mutual funds under French law will be renamed at the end of April 2014. Meanwhile, the names of Luxembourg-law funds will be changed in a third phase over the course of the year.
Formerly known as Dexia Asset Management, the firm was acquired by New York Life Investment Management early February, which led to a corporate rebranding. Most of the funds are expected to be renamed by the summer.
