Fixed income fund links to UK and US corporate bonds

Record Currency Management is launching a fixed income fund by the end of May initially targeting UK pension funds. The Dublin-domiciled unit trust will offer exposure to the UK and US corporate bond market, and use interest rate swaps and foreign exchange contracts to hedge the US bond portion of the portfolio back to UK yield curve patterns.The unleveraged portfolio, using Northern Trust Investor Services as administrator, will invest mainly in investment grade corporate debt, with opportu