Pacific Asset Management and Coolabah Capital Investments have teamed up to launch a new global active credit fund.
Pacific Coolabah Global Active Credit Fund is an Irish UCITS vehicle focusing on long-only credit opportunities.
Managed by Pacific Asset Management and sub-advised by Australian asset manager Coolabah, the newly launched fund aims to outperform the global corporate bond markets by more than 150 basis points.
The duo said the fund will invest based on three major investment principles; generating alpha from inefficiencies in liquid high-grade bonds; minimising idiosyncratic credit risk; and maintaining a focus on quantitative & technical dislocations. A dedicated credit research team has joint responsibility for proprietary ESG research and portfolio integration.
Matthew Lamb, CEO of Pacific Asset Management, said: “PAM has always looked for fund managers who can bring a true craft investment approach to our investors. I am delighted that Chris and I were able to structure a partnership earlier this year that has enabled the launch of this truly differentiated investment grade credit fund. Coolabah’s investment approach is unlike any other I have seen and lets us bring to investors a real alternative to the more commoditised, traditional fixed income funds. I look forward to working with Chris and the rest of the Coolabah team.”
Christopher Joye, CIO and portfolio manager at Coolabah Capital Investments, added: “We are really excited to bring this new fund to a wider investor audience. Our philosophy is that proprietary quantitative research fused with very active trading in liquid, high grade credit can consistently find and exploit bond mispricings to generate alpha through capital gains that materially enhance the organic yield that you earn on these securities.”
