Graham Duce

“European investment grade credit has been a rewarding area for investors over the last couple of years and while we remain constructive on its outlook, we do recognise that it will be a tougher environment going forward. We have therefore decided to reduce our high conviction position in Bluebay Investment Grade Fund and allocating the monies to the recently launched DB Traxis Global Macro Fund. This Ucits compliant fund will be managed in a similar way to the Traxis Global Equity Macro hedge fund. This move increases the portfolio’s allocation to alternatives up to 20 per cent.”