PALLMALL High Yield Europe Plus Fund provides daily liquidity with immediate effect
The PALLMALL Funds ICVC – PALLMALL High Yield Europe Plus Fund (ISIN: GB0007368888), managed by Pall Mall Investment Management Ltd. (PMIM), will provide daily liquidity with effect from 25th January 2010. The fund is one of the longest running and most successful European high yield funds. It was launched on 23rd June 1999 and has since been managed by a highly stable team. Morningstar, Lipper, Feri and Standard & Poor’s have repeatedly rated it as one of the top ranking funds in its peer-group. In 2009 the fund achieved a performance of +67.64%.
(IINews) - PALLMALL High Yield Europe Plus Fund provides daily liquidity with immediate effect
The PALLMALL Funds ICVC – PALLMALL High Yield Europe Plus Fund (ISIN: GB0007368888), managed by Pall Mall Investment Management Ltd. (PMIM), will provide daily liquidity with effect from 25th January 2010. The fund is one of the longest running and most successful European high yield funds. It was launched on 23rd June 1999 and has since been managed by a highly stable team. Morningstar, Lipper, Feri and Standard & Poor’s have repeatedly rated it as one of the top ranking funds in its peer-group. In 2009 the fund achieved a performance of +67.64%.
The company’s objective is to achieve primarily a high level of income and secondarily capital preservation, to result in a high overall yield. The ML European Currency High Yield ex-Financials Constrained Index (HPID) is used as the reference benchmark, however, as the fund is not managed as a benchmark fund, it may considerably differ from the index. The investment process combines both top-down and bottom-up analysis. Top-down analysis encompasses structural and cyclical market trends. This is used to mitigate market and sector risk and aims to identify extreme market conditions. The team's security selection process is two-fold. Initially, the team carries out a proprietary credit score on issuer in the universe. This includes a comprehensive review of the company financials, industry, equity support and management. The second phase is issue selection whereby the team scores an issue's characteristics, including covenants, optionality, size and liquidity. The fund manager will typically build up a position to the desired weighting over a period of time. The fund may invest in non-euro denominated issues which are typically hedged back into Euros.
The Pall Mall High Yield Team consists of 3 fund managers, one credit analyst and 2 traders.
Curt Schibli Jr, CFA, - CIO - BA (Boston University), is a director at PMIM and founder of the company’s high yield business. He previously managed European bond funds at Schroeders in Zurich and London
Jonathan Goble - BSc (Exeter University), has 24 years of research experience in equity and bonds with Morgan Grenfell, BZW and CSFB. He is Head of Research and one of PMIM’s Directors.
Chris Brils, CFA – Head of High Yield - MSc Forestry (Wageningen University), MBA (Nyenrode University), began his investment career in 1998 as a credit analyst at ABN AMRO Asset Management and later headed their European high yield business. He joined PMIM in 2009.
Jason Late - MBA (Columbia Business School), BS Chemical Engineering (University of Southern California), joined PMIM in 2005. He was previously an associate in the investment banking division at Goldman, Sachs & Co. in New York.
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Pall Mall Investment Management Ltd. is specialised in institutional asset management with expertise in European high yield and quantitative strategies. The company focuses exclusively on institutional investors and currently manages approx. USD 1.4 bn. The Company's headquarters are based in London, UK, with a branch office in Hamburg, Germany.
If you have further questions, please contact:
Dr. Dirk Rogowski, Head of Marketing, Pall Mall Investment Management Ltd.
Tel.: +49 172 54 33 538 or +49 40 300 929-175; dr(at)pmim.com; www.pmim.com
If you have further questions, please contact:
Dr. Dirk Rogowski, Head of Marketing, Pall Mall Investment Management Ltd.
Tel.: +49 172 54 33 538 or +49 40 300 929-175; dr(at)pmim.com; www.pmim.com
Datum: 26.01.2010 - 19:43 Uhr
Sprache: Deutsch
News-ID 156339
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Ansprechpartner: Dr. Dirk Rogowski
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London
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Finanzen
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