Sumi Trust Global Asset Services will be the exclusive distributor of BlueBay's Global Investment Grade Credit Fund in Japan.
The fund has been structured as a Cayman Island open-ended unit trust and will be distributed to the Sumitomo Mitsui Trust Bank (SMTB) pension fund clients.
The fund launched with $69 million (€61 million) and offers both accumulation and distribution share classes denominated in Japanese yen, both hedged and unhedged.
Sumi Trust Global Asset Services will be providing trustee, administration and global custody, through affiliated companies in the Cayman Islands, Ireland and the UK.
Karl McEneff, chief executive officer of Sumi Trust Global Asset Services, says: "We are delighted to be working with BlueBay to launch the fund in partnership with our parent company SMTB, to deliver a superior structure and service model.”
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