Cheyne Capital Management has launched two UCITS-compliant funds regulated by the Irish Financial Services Regulatory Authority.
The funds deploy global credit and real estate bond strategies and are based on those of two existing flagship Cheyne offshore strategies.
The Cheyne Global Credit Fund takes positions in investment grade and crossover credit, primarily in North America and Europe, where the team believes credit spreads are currently pricing in too much downside given the very robust fundamentals of most corporate balance sheets.
The Cheyne Real Estate Bond Fund focuses on high quality real estate-backed bonds offering weekly liquidity.
Chris Goekjian, chief investment