As of 5 November, Harrington Cooper is overseeing delivery of the US-based asset manager’s open-ended UCITS SICAV range, as Oaktree moves to widen its UK footprint.
Particular focus will be given to the range’s Global High Yield Bond, Global Convertible Bond, European High Yield Bond and Emerging Markets Equity funds.
The initiative seeks to capitalise on what Harrington Cooper says is a lack of vehicles available to institutional investors in European fixed income and emerging market equities.
“On the fixed income side, there are not many convertible bond funds around,” said managing partner Harry Dickinson. “In the high yield space there are capacity issues too, and a new entrant will be welcomed.
“In emerging market equities the market is very underweight, so we see a very attractive opportunity to benefit from when the market turns. It is a long-term view.
“Oaktree are keen to broaden the distribution reach in Europe, and in the UK because it is a very significant part of the European market. They have appointed Harrington Cooper because they don’t have anyone specifically covering the UK wealth management base.”
Dickinson believes the main selling point is Oaktree’s global reputation and track record, as he explained.
“There is quite a lot of knowledge of Oaktree in the UK market but there has never been an investable vehicle,” he said.
“The group’s focus on developing strategies which generate alpha while maintaining low levels of risk complements Harrington Cooper’s ethos, which identifies differentiated managers with a consistent and credible investment philosophy and process. We expect these funds will be very well received by UK professional investors who are seeking out specific investment strategies which add genuine value.”
