Border to Coast has expanded opportunities for partner funds with the launch of its £3.7bn multi-asset credit fund.
Border to Coast has launched its £3.7bn multi-asset credit fund, bringing the total investments it manages to £34.6bn.
With each manager focused on a specific fixed income asset class, the fund’s structure results in a diversified portfolio through which partner funds have access to specialist managers across a range of credit opportunities.
The pooling governance structure also allows allocation between managers to adapt to changes in the credit cycle.
Border to Coast says the fund was created to complement its existing index-linked bond, investment-grade credit, and private credit funds by providing low-cost access to higher-yielding areas of the fixed income market.
Pimco has been appointed as a core multi-asset credit manager together with four complementary single asset class specialists: Wellington Management (global high yield), Barings (global leveraged loans), PGIM fixed income (securitised credit) and Ashmore (emerging market debt).
Border to Coast says it will leverage the expertise of its internal portfolio managers to manage a further mandate focussed on hard currency emerging market sovereign debt.
Border to Coast CEO Rachel Elwell says: “The launch of the multi-asset credit fund and the significant increase in total assets Border to Coast is responsible for is testament to the strength and value that can be unlocked when we all work together.
“We believe multi-asset credit is a truly differentiated fixed income offering for our partner funds, harnessing both external specialist managers and the internal expertise we have here at Border to Coast. The final amount invested at launch is 37 per cent higher than originally committed.”