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SYZ launches OYSTER European Subordinated Bonds Fund to strengthen fixed income offering

Nachrichtenquelle: GlobeNewswire
03.10.2016, 11:42  |  875   |   |   

Banque SYZ SA / SYZ launches OYSTER European Subordinated Bonds Fund to strengthen fixed income offering . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement.

PRESS RELEASE

Geneva, 3 October 2016 - SYZ Asset Management, the asset management division of the SYZ Group, has launched the OYSTER European Subordinated Bonds fund. The new strategy strengthens its existing fixed income range and offers investors access to attractive yield in a low-income environment. The fund is managed by Milan-based co-portfolio managers, Andrea Garbelotto and Antonio Ruggeri, both highly experienced investors in European corporate bonds with a deep knowledge of the subordinated debt market. The fund is registered in eleven European countries.

Subordinated bonds offer compelling income opportunities in the present low-income environment

The asset class has rapidly evolved since the 2008 crisis. Since then it has more than doubled, exceeding EUR 600 bn[1]. Continuously growing and primarily dominated by banking and insurance, subordinated debt is increasingly issued by utility, energy or telecom companies. Non-financial companies' issues have quadrupled over four years and reached EUR 100 bn. Ninety-five per cent of issuers have investment grade rating and solid fundamentals. In the company capital structure, subordinated bond lies between equity capital and investor debt. With current average yield similar to the high yield sector, subordinated bonds offer investors new and attractive sources of return.

A strategy with diversified exposure to European subordinated bonds

The OYSTER European Subordinated Bonds invests in a broad universe of subordinated bonds. The management team takes particular care of providing diversification in terms of sector (across banks, insurance, non-financials) and seniority (across a lower part of the capital structure). Assessing liquidity and the fundamental analysis of both issue and issuer are vital to the long-term, high-conviction strategy. The liquidity of instruments is key to the fund's process, and only the most liquid bonds are considered for investing. The portfolio managers have developed proprietary models to select bonds. They analyze both issue and issuer fundamentals to achieve high return with minimized intrinsic risks. The strategy appeals to investors seeking diversification in their bond allocation, as well as those searching for higher yielding bonds.  

Managed by two highly experienced investors in European corporate bonds

Andrea Garbelotto and Antonio Ruggeri have a proven track-record of successfully managing the OYSTER European Corporate Bonds fund. Since launch in 2003[2], their strategy achieved a total return performance of +79.02% (as of 31.08.2016), outperforming the reference index[3] by 1.15%. Over the years, they have also built strong expertise in subordinated bonds, leading to the launch of the OYSTER European Subordinated Bonds Fund. The team was bolstered in 2015 by the arrival of credit analyst Luigi Pedone, specialist in subordinated bonds and expert in financial regulation.

Andrea Garbelotto said: "We started to invest in subordinated bonds after the 2008 crisis: at that time, market fears severely impacted the entire financial sector and pushed valuations down. Since then, we have gradually built our exposure to the segment and developed proprietary models to select the best mispriced opportunities."

Katia Coudray, Chief Executive Officer, SYZ Asset Management commented: "We see a lot of investment opportunities in the subordinated bond market. The financial sector is deleveraging and this trend is likely to continue. Andrea and Antonio have had a long focus on targeting higher-yielding corporate bonds and managing their portfolios with conviction. I am proud to have such a proven and engaged team focused on delivering long-term in this exciting area of the market. It presents a new solution to our investors and evolves our fixed income offering."

The new strategy complements SYZ Asset Management's wide ranging Fixed Income offering such as the OYSTER European Corporate Bonds, OYSTER Euro Fixed Income, OYSTER Flexible Credit, OYSTER Global Convertibles, OYSTER Global High Yield and OYSTER USD Bonds funds.

The OYSTER European Subordinated Bonds fund is registered in eleven European countries: Austria, Germany, Belgium, France, Italy, Luxembourg, Spain, Netherlands, Sweden, Switzerland and United Kingdom.

For further information, please contact:

Moreno Volpi
Tel.: +41 (0)58 799 16 98
E-mail: moreno.volpi@syzgroup.com


Administrative information

OYSTER European Subordinated Bonds

Available share classes ISIN Mgmt Fee Perf. fee
Class C EUR LU1457568472 1.20% None
Class I EUR LU1457568043 0.65% None
Class R EUR LU1457568399 0.80%[4] None

Risk profile:
Lower risk                                                                    Higher risk
Typically lower rewards             Typically higher rewards

1 2 3 4 5 6 7

OYSTER European Corporate Bonds

Available share classes ISIN Mgmt Fee Perf. fee
Class C EUR LU0167813129 1.00% None
Class I EUR LU0933609827 0.45% None
Class R EUR LU0335770011 0.60% None

Risk profile:
Lower risk                                                                    Higher risk
Typically lower rewards             Typically higher rewards

1 2 3 4 5 6 7

OYSTER Euro Fixed Income

Available share classes ISIN Mgmt Fee Perf. fee
Class C EUR LU0095343264 0.90% None
Class I EUR LU0335770102 0.55% None
Class R EUR LU0933610080 0.70% None

Risk profile:
Lower risk                                                                    Higher risk
Typically lower rewards             Typically higher rewards

1 2 3 4 5 6 7

OYSTER Flexible Credit

Available share classes ISIN Mgmt Fee Perf. fee
Class C EUR PR LU1045039002 1.75% 20.00% Relative Euribor 1M TR*
Class R EUR PR LU1045038962 1.05% 20.00% Relative Euribor 1M TR*

* The percentage indicated for the performance fee applies to net annual outperformance relative to the following benchmark: Euribor 1M TR

Risk profile:
Lower risk                                                                    Higher risk
Typically lower rewards             Typically higher rewards

1 2 3 4 5 6 7

OYSTER Global Convertibles

Available share classes ISIN Mgmt Fee Perf. fee
Class C EUR LU0418546858 1.45% None
Class I EUR LU0933610163 0.80% None
Class R EUR LU0435362065 0.90% None

Risk profile:
Lower risk                                                                    Higher risk
Typically lower rewards             Typically higher rewards

1 2 3 4 5 6 7

OYSTER Global High Yield

Available share classes ISIN Mgmt Fee Perf. fee
Class C USD LU0688633410 1.20% None
Class I USD LU0688633840 0.80% None
Class R USD LU0933610247 0.95% None

Risk profile:
Lower risk                                                                    Higher risk
Typically lower rewards             Typically higher rewards

1 2 3 4 5 6 7

OYSTER USD Bonds

Available share classes ISIN Mgmt Fee Perf. fee
Class C USD LU0970691076 0.90% None
Class I USD LU0970691233 0.55% None
Class R USD LU0970691159 0.70% None

Risk profile:
Lower risk                                                                    Higher risk
Typically lower rewards             Typically higher rewards

1 2 3 4 5 6 7

The prospectus, the key investor information documents, the articles of association and the annual and semi-annual reports on the funds are available from the representative and payment agents.


Note to the Editor

About OYSTER Funds
OYSTER is a UCITS investment fund range, developed by SYZ Asset Management to address the needs of a diversified client base including professionals. With a strong commitment to performance, this Luxembourg SICAV comprises nearly 30 sub-funds, covering a variety of asset classes, markets and investment styles. OYSTER is currently registered and/or distributed in various European and Asian countries through a varied distribution network. To satisfy a discerning and demanding client base, SYZ Asset Management entrusts management of its OYSTER funds to internal and external fund managers. A number of strategies have resulted in certain sub funds being the recipients of internationally recognised awards.

About SYZ Asset Management*
SYZ Asset Management, the institutional asset management entity of the SYZ Group, provides investment solutions to institutional investors and financial intermediaries. Based on a strong conviction approach, SYZ Asset Management strategies are designed to fulfil the portfolio and risk management requirements of demanding investors.
The company offers managed accounts and several ranges of investment funds, among which OYSTER Funds, a UCITS Luxembourg SICAV, offering a diversified range of recognized products covering a variety of asset classes and investment styles entrusted to internal and external fund managers.
SYZ Asset Management was awarded "Best Swiss Asset Management Company" in the category "26 to 40 rated funds" at the European Funds Trophy 2016.
www.syzassetmanagement.com

*Any reference to SYZ Asset Management in this document should be construed as being a reference to any one or more of the legal entities, listed below, dependent on the particular jurisdiction in which the document is published, subject to the investment products and services referred to herein being available to potential investors or categories of investors in such jurisdictions.
SYZ Asset Management (Luxembourg) SA, SYZ Asset Management (Suisse) SA, SYZ Asset Management (Europe) Limited, SYZ (France) SAS.

About SYZ Group
Founded in Geneva in 1996, SYZ is a fast growing Swiss banking group exclusively dedicated to asset management, through two complementary business lines: high-end private banking and institutional asset management. SYZ offers private and institutional investors comprehensive portfolio management, with an active investment style and a focus on risk reduction that is clearly committed to providing absolute performance through alpha generation.
SYZ is an independent, family-owned company with a global footprint. The Group has approximately CHF 39 billion in assets under management (EUR 36 billion, USD 39 billion), a solid capital base and benefits from being privately held and independent.
www.syzgroup.com



Contacts


OYSTER Sicav
11-13 Boulevard de la Foire
L-1528 Luxembourg
info@oysterfunds.com
  SYZ Asset Management
(Luxembourg) SA

54 rue Charles Martel
L-2134 Luxembourg
Tel. : +352 26 27 36 1
   
         
REPRESENTATIVES        
         
Switzerland   Germany   Italy
Service de paiement
Banque SYZ SA
Rue du Rhône 30
CH-1204 Genève
Tel. : +41 (0)58 799 19 05
  Zahlstelle
BHF-BANK AG
Bockenheimer Landstrasse 10
D-60323 Frankfurt
Tel.: +49 (0)69 718 22 75
  Soggetto incaricato dei pagamenti
RBC Investor Services Bank SA Succursale di Milano
Vie Vittor Pisani 26
I-20124 Milano
Tel.: +39 02 305 756 1

 

Soggeto incaricato dei pagamenti
State Street Bank SpA
Via Col Moschin 16
I-20136 Milano
Tel.: +39 02 879 671 53

 

Soggeto incaricato dei pagamenti
Société Générale Securities Services SpA
Via Benigno Crespi 19/A-MAC 2
I-20159 Milano
Tel.: 39 02 917 846 61

 

Soggeto incaricato dei pagamenti
Allfunds Bank SA
Via Santa Margherita 7
I-20121 Milano
Tel.: +39 02 896 283 01
       
    France  
Représentant
SYZ Asset Management (Suisse) SA
Rue du Rhône 30
CH-1204 Genève
Tel.: +41 (0)58 799 19 05
  Agent centralisateur
BNP Paribas Securities Services
9 rue du Débarcadère
F-93500 Pantin
Tel. : +33 1 57 43 12 58
 
       
Spain   Austria  
Entidad comercializadora
Allfunds Bank
C/ Estafeta Nº6 (La Moraleja)
Complejo Pza. de la Fuente- Edificio 3
28109 Alcobendas
Tel.: +34 (0)91 274 64 00
  Zahlstelle
Raiffeisen Bank International AG
Am Stadtpark 9
A-1030 Wien
Tel.: +43 (0)1 717 070
 
Belgium   Sweden    
Agent financier - Financiële agent
Caceis Belgium SA
Avenue du Port 320
Havenlaan 86C b
B-1000 Bruxelles
Tel. : +32 (0)2 209 26 40
  Paying Agent
MFEX Mutual Funds Exchange AB
Linnégatan 9-11
114 47 - Stockholm
Sweden
Tel.: +46 (0)8 559 03 650
 
         
United Kingdom        
Representative
SYZ Asset Management (Europe) Limited
Authorised and Regulated by the FCA
Southwest House
11a Regent Street
London SW1Y 4LR

Tel: +44 (0) 20 30 400 500
       

Disclaimer

OYSTER SICAV is an open-ended multi-fund investment company established and regulated in Luxembourg. Copies of the SICAV's current Prospectus and Key Investor Information Document can be obtained from SYZ Asset Management (Luxembourg) SA. Past performance is not a guide to the future, and the value of investments can fall over time as well as rise. An investment in sub-funds of OYSTER SICAV involves risks that are more fully described in the Prospectus. The content of this media release is provided solely for information purposes and constitutes neither a recommendation to buy or sell. Always consider taking independent investment advice from a person properly authorized and regulated prior to investing.



[1] Source: Bloomberg, BofA Merrill Lynch, data at end of 2015

[2] OYSTER European Corporate Bonds C EUR, launched on 10 June 2003

[3] Reference index : BofA Merrill Lynch Euro Corporate TR EUR

[4] The net management fee is set at 0.4% for the first twelve consecutive months following the launch date of this Sub-fund




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Banque SYZ SA via Globenewswire

--- End of Message ---

Banque SYZ SA
Rue du Rhône 30 Genève 11 Switzerland


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