AP1 invests $330m in global high yield via Nomura

first_imgAP1 – one of five buffer funds for Sweden’s state pension – has appointed Nomura Asset Management to manage a $330m (€279m) global high-yield credit mandate.Majdi Chammas, AP1’s head of external management, and Tina Rönnholm, the fund’s portfolio manager responsible for external high-yield investments, said in a statement: “[Nomura] has a very powerful investment philosophy and process that is well proven both over time and in various market conditions.”Nomura’s Ireland-domiciled Global High-Yield Bond fund was chosen by AP1 following a “comprehensive” global tender process last year, they added.  David Crall, CIO at New York-based Nomura Corporate Research and Asset Management (NCRAM), said the firm was pleased to have established the relationship with AP1. “Like AP1, we have a strong commitment to responsible and sustainable practices, both in running our own business and when investing client assets entrusted to us,” he said.“We believe that incorporation of environmental, social and governance factors is congruent with our ‘Strong Horse’ investment philosophy.”NCRAM said it had a total return-oriented investment approach driven by bottom-up credit research.It dubs the investment method as the “Strong Horse” approach, because it tries to find corporate issuers deemed capable of carrying their debt through economic cycles.The Nomura investment will sit alongside a $400m allocation to Hermes Investment Management’s global high-yield bond strategy, which AP1 made last year.The SEK333bn (€32.4bn) buffer fund’s 2017 investment return of 9.6% after costs was the strongest of the four main AP funds.last_img read more

OFFICIAL: Zlatan Ibrahimovic Returns To Manchester United, To Wear Jersey Number 10

first_imgManchester United have announced the return of striker, Zlatan Ibrahimovic on a one year deal.The 35-year-old Swede, who is recuperating from his knee injury at United’s training facility and is expected to be fully fit by December, scored 28 goals in 46 appearances for United last season.Confirming the return, Jose Mourinho told Manchester United’s official website: “We are delighted Zlatan is on the road to recovery and we are equally delighted to have his ambition and experience back with us.”“After his contribution last season he deserves our trust and we will be patient waiting for him to return. I have no doubt that he will be important in the second part of the season.”He’s not finished yet – @Ibra_official has signed a new one-year contract with #MUFC! https://t.co/ATiksSrLDT pic.twitter.com/PDh9fDEgrg— Manchester United (@ManUtd) August 24, 2017Ibrahimovic joined United on a free transfer in July 2016 and was released last June following the knee injury that ended his season prematurely last April.The big Swede told manutd.com: “I am back to finish what I started. It was always mine and the club’s intention for me to stay.”“I cannot wait to get back out on that Old Trafford pitch, but I also know that I have to take my time to make sure that I am ready.”“I have been working hard and will continue to do so to make sure I am in the best possible condition for my return to the pitch.”RelatedVideo: Zlatan Ibrahimovic is Back?!August 21, 2017In “England”Champions League Ouster Prompted Ibrahimovic ExitMarch 28, 2018In “England”Wayne Rooney and Zlatan Ibrahimovic Nominated For MLS MVPOctober 31, 2018In “Events”last_img read more