Part of the WestLB Mellon Compass fund, the vehicle invests in euro-denominated corporate bonds with a rating of at least B3 or B- and a maximum residual maturity of 3.5 years.
A minimum of 20% of the assets are invested in sub-investment high yield credit, while issuers are principally from countries with investment grade rating.
Launched in August 2011, the sub-fund’s assets under management total €384m.
WestLB Mellon no longer exists as a brand. Originally a 50:50 joint venture between BNY Mellon and German portfolio management and service company Portigon, the former bought out its partner in October last year.
