Products September 15, 2010

New PIMCO Offering Provides Global Exposure to High Yield Securities

PIMCO has launched the PIMCO High Yield Spectrum Fund.
Reported by

The PIMCO High Yield Spectrum Fund is an actively managed portfolio that aims to take advantage of the full global opportunity set of high yield securities. The fund is managed by Andrew Jessop, executive vice president and global head of PIMCO’s high yield portfolio management group.  

The fund offers both institutional and individual investors the potential for enhanced returns through a global exposure to the full high yield credit quality spectrum, while at the same time seeking to mitigate risks presented by some lower credit-quality bonds.   

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A press release said the fund’s benchmark is The Bank of America/Merrill Lynch Global High Yield Constrained Index. According to the announcement, the global high yield universe is over 20% larger than the U.S. high yield market.   

The fund’s Institutional shares trade with the ticker PHSIX. Additional tickers include “A” shares (PHSAX), “C” shares (PHSCX), “D” shares (PHSDX), and “P” shares (PHSPX).  

Deals & People September 15, 2010

Invesco New Hire to Co-Head Private Capital

Invesco announced that Henry Robin has joined its fund of funds team as a Managing Director.
Reported by

Robin will be based in Invesco’s New York office where he will join founding partner Phil Shaw as co-head of the private equity fund of funds business. 

According to the announcement, previously, Robin was a senior partner at North Sea Capital, a Copenhagen-based private equity fund of funds manager that is closely affiliated with Nordea, Scandinavia’s largest financial institution. Prior to that, he was a founding partner and deputy head of AlpInvest Partner’s New York office. He previously held senior positions investing in private equity funds at Credit Suisse First Boston and the MacArthur Foundation.  

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Invesco also announced that Theresa Boyd has rejoined the Private Capital team as a Senior Associate, after completing an MBA degree at Oxford University.  Boyd joins from Zyoxel Limited, a University of Oxford life sciences spinout. Prior to business school, she was a Product Manager for Invesco’s Private Capital Group.  

Since the group’s inception in 1982, the Invesco Private Capital team has committed over $4 billion to more than 450 private equity partnerships.  

 

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