First State unveils new fixed income vehicle

In a bid to grow its fixed income offering, First State has launched a new fund focusing on absolute return.

First State unveils new fixed income vehicle

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The First State Global Interest Rates and Currency Fund focuses on achieving an absolute return and will offer exposure to global bond and currency markets. Structurally, it will be a sub-fund of the company’s UK registered OEIC, the Investments ICVC.
 
“This new investment capability is designed to deliver positive absolute returns to investors in low and potentially rising yield environments,” CIO Paul Griffiths said.
 
 Kieron Nutbrown, who was appointed head of global macro fixed income in January this year, will manage the fund. He leads the recently established global macro team based in London. 
 
The team will be working on establishing a stable track record for the fund during the next 12-18 months, the company said.
 

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