New York-based investment house Muzinich & Co has launched a European Long-Term Investment Fund (ELTIF), giving retail investors access to asset classes that have traditionally been dominated by institutional investors.
The launch of the Muzinich Firstlight Middle Market ELTIF was announced on March 28, 2019 and is in partnership with Italian fund selector, Cordusio Sim. It is the first ELTIF managed by Muzinich in Europe.
The product is a multi-credit strategy and it will invest in a portfolio of liquid and illiquid instruments. The key aim is to preserve capital and offer protection against rising interest rates and heightened volatility.
“ELTIFs are a relatively new generation of investment vehicle,” the corporate credit manager said in a statement. “Like Ucits funds, they are highly regulated and aimed at limiting risk.”
Manuela D’Onofrio, head of investment and products at Cordusio, said: “In the current context, which envisages moderate rates growth and inflation that is unlikely to reach 2%, it is necessary to create instruments that can generate returns even for those clients less inclined to riskier investment classes.”
The product is available to European and UK investors.
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