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Schroders adds bond fund to 'alternative Ucits' platform

Schroders Oaktree GAIA Credit fundSchroders, the UK asset manager that has been tilting its business towards alternative assets, has added a bond fund to its ‘alternative Ucits' platform following a deal with a US asset manager.

The Schroder GAIA Oaktree Credit fund is described as a global multi-strategy credit portfolio that offers investors access to high-conviction liquid credit opportunities. 

Oaktree Capital Management launched the strategy in 2017 and it now has around $5.3 billion (€4.4 billion) of assets.

The fund invests in US and European high yield bonds, corporate and real estate structured credit, emerging markets debt and global convertibles.

Bruce Karsh, Oaktree’s co-chairman and chief investment officer, leads the fund alongside David Rosenberg.

Schroders said it expected to have a long-term partnership with Oaktree, building on Oaktree’s suite of liquid and illiquid credit capabilities including senior loans, private credit and illiquid stressed/distressed assets.

Andrew Dreaneen, head of alternatives at Schroders, said Schroders’ GAIA platform has nine strategies and $6.2 billion of assets under management (at December 31, 2020).

Last year Schroders generated £12.4 billion (€14.4 billion) of net inflows through partnerships. In its full-year 2020 report, company said it was increasingly balanced towards higher growth areas, includng private assets and alternatives.

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