Axiom Alternative Investments launches new Long/Short Credit Fund (UCITS Format)

The fund will invest in high yield debt instruments across European and US markets targeting single digit net returns

Axiom’s recently appointed Gilles Frisch will manage the fund

Axiom Alternative Investments, the French asset manager with USD1.7 billion under management and offices in London and Paris, is pleased to announce the launch of its new Long/Short Credit Fund which complements its range of existing, successful funds.

Against the backdrop of an uncertain credit cycle, combined with rising economic risks brought by the COVID 19 pandemic, the strategy will aim to identify and capture numerous market opportunities. In this context, the Long/Short format seems the most optimal to invest in the credit market. The fund will focus on cash bonds across European and US High Yield markets whilst benefitting from the use of flexibility of vanilla high yield derivatives. The fund’s core view in 2020 is that single B credits are mispriced versus double Bs.

The Axiom Long Short Credit fund (Bloomberg Ticker: AXILSCP LX Equity), which is available in an attractive UCITS format, manages EUR 30 million plus of initial assets under management and will target 4% net returns in euros with a volatility below 5% over the credit cycle.

The fund will be managed by Gilles Frisch who joined Axiom in 2019 as a Portfolio Manager. Gilles has over 26 years’ experience in the investment management industry and a deep experience of 21 years in high yield credit having joined from Swiss Life Asset Managers where he held the role of Head of High Yield.

David Benamou, Chief Investment Officer at Axiom Alternative Investments, said:

“We are delighted to extend our offering to include our first Global US and Europe Long/ Short credit fund both in terms of geography and sector. With an uncertain credit cycle and rising economic risks, we believe that this fund is perfectly placed to take advantage of the current market environment. Axiom Long Short Credit is an alternative to traditional long-only funds in terms of risk-return profile. Gilles is a leading European and US credit expert with a wealth of experience so we are pleased that he will be leading our newly launched fund.”