Fixed Income  

Avoca latest to launch convertible bond fund

Irish fund manager Avoca Capital has become the latest group to launch a convertible bond fund for UK and European investors.

The Avoca Convertible Select Global fund is run by the group’s specialist team led by Tarek Saber. Domiciled in Luxembourg and compliant with Ucits IV rules, it has a sterling share class and an ongoing charge of 1 per cent.

The team has been running the strategy internally for 18 months during which time it has gained 16 per cent.

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Avoca is a specialist fixed income investor, and bought Liontrust’s credit team in April 2011.