Muzinich adds retail share class to £1bn fund

Muzinich & Co. has launched a retail share class for its ShortDurationHighYield Fund.

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The London and New York-based credit specialist said the fund has attracted nearly £1bn of inflows since its launch nine months ago, leading to requests from stockbrokers and discretionary and private client managers for access to the fund.

Muzinich said it has been an institutionally focused asset manager since the company launched in 1988 and, while it has no plans to change this strategy, it wanted to offer this simply to meet demand.

The Ireland-domiciled Ucits III fund will be available for a minimum investment of £1,000, with the option of income or accumulation share classes. The retail shares will initially only be available on a limited basis, to larger wealth managers.

The fund aims to generate high returns but with lower volatility than funds investing in longer dated high yield securities.

Joshua Hughes, Muzinich UK sales and marketing director, said: “We have never had a fund launch like this. It has really hit a chord with investors and the demand from clients has been overwhelming.

“Muzinich has built a powerful reputation among institutional investors. The new share classes will enable us to take a tentative step into retail market through agreements with selected wealth managers.”

He added that the company is expecting to complete a major deal with a large, “very well-known and highly respected wealth manager,” imminently.

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