Axiom’s recent hire Laurent Henrio, one of the most experienced credit derivatives specialists in Europe, will be Lead Manager of the fund
Axiom Alternative Investments, the French asset manager with USD $1.3 billion assets under management and offices in London and Paris, is pleased to announce the launch of its newest fund – Axiom Credit Opportunity – a market neutral credit derivatives strategy fund, targeting double digit net returns.
Axiom Credit Opportunity targets an annual net return of 12% in EUR and a Sharpe ratio greater than two. The fund’s non-market-directional strategy will be invested in credit derivatives, a USD $8.5 trillion market (Source: BRI).
The fund’s strategy focuses on capturing value arising from two principal sources: the structural price anomalies within the credit derivatives market and the opportunities created by the ongoing regulation that forces banks to reduce their risk and improve their return on equity.
The fund aims to deliver stable and uncorrelated returns to traditional asset classes and maintain a market neutral profile while embedding tail hedge features that protect performance from extreme market scenarios. This will be achieved through a focus on liquid Investment Grade and High Yield Credit in Europe and North America.
Axiom Credit Opportunity will be managed by Laurent Henrio, the former Global Head of Credit Trading at Société Générale, who joined Axiom in September 2018. He has over 16 years of experience in derivatives, making him one of the most experienced credit derivatives specialists in Europe. He will be supported by Adrian Paturle, portfolio manager at Axiom since its creation, who brings more than 20 years’ experience in credit funds management.
David Benamou, Chief Investment Officer at Axiom Alternative Investments, said:
“Diversifying our funds range with the launch of Axiom Credit Opportunity allows us to expand our spectrum of non-directional investment solutions, with a low correlation to traditional asset classes. We see this as a unique opportunity to reconnect with our historical investor base in search of double-digit returns.”
Laurent Henrio, Portfolio Manager of Axiom Credit Opportunity, said:
“I am excited to be a part of Axiom at this important stage in its growth, as we launch the first ever credit derivatives fund in our product range. We are pleased with the successful launch of the fund, both in terms of its performance to date and early progress in assets under management. This is a unique proposition in an uncrowded but growing market, which offers significant opportunities arising from the regulatory driven weighting on banks. We see the fund’s strategy as a source of value for investors, offering true diversity and decorrelation from traditional asset classes.”