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

Premier League experience prompted Steven Caulker’s Liverpool move

first_img He made just eight appearances for Southampton this season – the last of which came against Liverpool in last month’s 6-1 Capital One Cup quarter-final defeat – but only one of those was a Premier League start, back in August. Liverpool’s scouting department were more than familiar with the centre-back as he was a target for previous manager Brendan Rodgers. While Liverpool’s injury problems may be easing at the back up front there is no chance of a swift return to action for striker Divock Origi after he underwent a minor knee operation. The Belgium international was expected to be back in training in the next week after a hamstring injury sustained on Boxing Day against Leicester. However, the 20-year-old has had surgery to fix a long-standing issue with his knee. Press Association Sport understands the procedure was just a “clean-up” of the joint but it does mean Origi will be sidelined for another three to four weeks. With Daniel Sturridge still not ready to return from a hamstring strain sustained at Newcastle on December 6 and Danny Ings out for the season after cruciate knee ligament surgery, it leaves manager Jurgen Klopp with just one fit striker in Christian Benteke. He also has the option of playing Roberto Firmino as a “false nine” for Wednesday’s visit of Arsenal. Liverpool manager Jurgen Klopp’s desire for Premier League experience in a centre-back led him to sign QPR’s Steven Caulker on loan. He will provide cover to what has become a threadbare unit with hamstring injuries to Martin Skrtel and Dejan Lovren sidelined for a few weeks, with Kolo Toure (cramp) and Mamadou Sakho (knee) expected to return to face Arsenal on Wednesday. “We looked for Premier League experience because in this short time, you need that experience,” Klopp told liverpoolfc.com. “We looked for a good header [of the ball] because that’s what we need – we want to play good pressing, we want to press the opponent and so they have to play long balls. “If they play long balls, you need people in the last line who can help you with headers and we’ve found it with Steven Caulker. “He was not in the best situation in Southampton, didn’t play too much, but this is January and we want to have the best solution for us and we are absolutely convinced that Steven is the best solution for us. “I am looking forward to working with him. He will be here today and then we can start working, so everything is good. “January is the only month where we can do something. We did it in this position [defence] and now let’s go on.” Liverpool finalised a deal before the noon deadline meaning Caulker will be available, if needed, for tomorrow’s visit of Arsenal and the defender travelled north to be able to train with his new team-mates late in the day. The German had been linked with a host of names, including Neven Subotic at former club Borussia Dortmund and Inter Milan’s Andrea Ranocchia – he is interested in Schalke’s Joel Matip, but only in the summer when he is out of contract – but plumped for a defender with knowledge of the British game. Caulker, a former Tottenham centre-back who has also played for Swansea, Cardiff and QPR in the top flight, was on loan at Southampton but due to a only making a handful of appearances his deal was cancelled in order for him to move to Anfield. Press Associationlast_img read more

Angels sign lefty Ryan Buchter to minor league deal

first_img Jose Suarez’s rocky start sinks Angels in loss to Astros Angels’ poor pitching spoils an Albert Pujols milestone TEMPE, Ariz. — The Angels signed Ryan Buchter to a minor-league deal on Monday, bringing in a reliever with a career 2.86 ERA.Buchter, however, may have been unable to find a major league deal because of baseball’s new three-batter rule, which minimizes the value of lefty specialists. Relievers will now have to face at least three hitters, or pitch until the end of an inning, which makes it more difficult to use a pitcher to face just one or two left-handed hitters.Buchter faced fewer than three hitters in 23 of his 64 games last season. Last season Buchter allowed a .904 OPS against righties, compared with .728 against lefties.ALSOManager Joe Maddon said the Angels will use relievers to pitch their first couple exhibition games over the weekend. … Utility player Luís Rengifo said he was confused by rumors that he was going to be traded to the Dodgers in the Joc Pederson-Ross Stripling deal. He never heard from GM Billy Eppler, and obviously the deal never happened. “It was a little confusing not knowing where I was going to go, but I am here now and I’m really excited to get the season started,” he said.Related Articles Angels offense breaks out to split doubleheader with Astros center_img Angels’ Shohei Ohtani spending downtime working in outfield Newsroom GuidelinesNews TipsContact UsReport an Error Angels’ Mike Trout working on his defense, thanks to Twitter last_img read more