Thames River is gearing up to launch a new UCITS III-compliant absolute return fund in May, focused on high-yield bonds. The Thames River Global High Yield Bond Fund will be managed by the firm’s existing 12-strong global credit team, headed by Stephen Drew and Mehrdad Noorani.
The portfolio will comprise around 50 holdings, with a focus on bottom-up credit selection biased towards securities with good trading liquidity. This approach will be complemented by a macro hedging overlay and capital protection strategy.
The managers expect to invest 70% in developed markets and 30% in emerging markets, with roughly 80%