The fund has been seeded with assets of $125m and will primarily invest in global high yield corporate issuers, with the aim of outperforming the high yield index.
It has been launched following a period of expansion for the firm, which saw them recruit Lake alongside Renaud Martin, who signed up as head of convertibles after leaving Crédit Agricole’s Calyon broking arm.
Rosscoe Deasey, a former RIT Capital manager was another new start as European equities manager at the start of last year.
Mirabaud also launched two other funds last year, a global emerging markets equity strategy and a dynamic allocation fund.
Lake commented: “The flexible approach [of the high yield bond fund] aims to seek out and exploit relative value opportunities across markets, sectors and individual companies. All of this is encompassed by a thorough analysis and ongoing monitoring of risk by the various high yield specialists across Mirabaud.”