New fixed interest fund launched
Harbour Asset Management, which holds over $800 million of investor funds, has launched a New Zealand fixed income fund.
Harbour Asset Management (Harbour) is launching a new Harbour NZ Core Fixed Interest Fund - an investment grade bond strategy to invest mainly in New Zealand government and corporate fixed interest securities.
Christian Hawkesby, head of fixed income, said, “There is significant change occurring in NZ fixed income investing. In what was meant to be a safe asset class, retail and institutional investors have suffered losses in recent years, particularly through the collapse of finance companies and CDOs.
“Many investors were unaware of the inherent risk in these securities, while high-quality securities performance well. The regulatory environment is rightly being strengthened, to ensure greater emphasis is placed on sound research and investing with due care and expertise.”
The Harbour NZ Core Fixed Interest Fund has a cornerstone first investor and will be available to both institutional investors and retail investors through financial advisors.
In January 2011, Harbour established a fixed interest team led by Mr Hawkesby, working alongside Mark Brown, director, fixed income portfolio management. The team also manages the Harbour NZ Corporate Bond Fund.
Mr Brown has a strong investment track record and a deep understanding of the local wholesale fixed income market, with over 16 years fixed experience leading the investment team that evolved at National Mutual, AXA, and Alliance Bernstein.
Mr Hawkesby was formerly the head of market intelligence at the Bank of England, before returning to New Zealand.
Harbour has over $800 million under management in NZ fixed interest and Australasian equities, across a broad range of clients, including Crown entities, listed and unlisted major companies, multi-nationals, charitable trusts and KiwiSaver providers.
Niko Kloeten
Mon, 23 May 2011
Mon, 23 May 2011
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New fixed interest fund launched
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