Janus Capital International has launched an absolute return global bond fund, run by the team acquired when it bought fixed income specialist Kapstream last year.
The Absolute Return Income fund will be run by Kumar Palghat, supported by Janus’ global macro fixed income team.
Mr Palghat joined Janus in December 2015 when his firm, Kapstream Capital a $7.2bn (£5bn) Australian fixed income house founded by the manager, was bought by Janus. Previously, he was head of portfolio management for the Asia Pacific region at Pimco.
The new fund will aim to achieve a positive absolute return with a low correlation to equities and other conventional strategies. The fund’s ongoing charges figure has not been disclosed.
Janus said the fund will have core holdings in investment grade sovereign, corporate and securitised bonds, alongside some “structural opportunities”.
The product will complement the Global Unconstrained Bond fund managed by Bill Gross, being the second vehicle to be run by the firm’s global macro fixed income team, the firm added.
Mr Palghat said: “[The fund] aims to avoid the limitations of a duration-weighted benchmark and narrow investment guidelines, instead seeking investments from across global fixed income markets.”
