Prestige launches private debt and high-yield credit multi-manager fund

By Roger Baird on Thursday 14 February 2019

Alternative Lending

The asset manager said the fund will target returns of between 5 per cent and 7 per cent a year.

Asset manager Prestige Funds has launched a multi-manager fund that will invest in other private debt and high-yield credit funds around the world.

The Multi Finance Opportunities Fund will target returns of between 5 per cent and 7 per cent a year and will be managed by Malta-based Prestige Capital Management.

The fund will consider a range of alternative credit options, such as trade finance, invoice finance, real estate bridge finance, marketplace lending and high yield credit.

Its current model investment portfolio covers 17 individual credit funds, which hold $4bn in assets, spread across 17,000 loans.

The fund charges a 1.5% management fee with no performance costs.    

Prestige Funds founder Craig Reeves said: “Multi Finance Opportunities is designed to provide investors with a genuine alternative inflation hedge in an increasingly uncertain and volatile world.

“The universe of private debt managers has now reached a point of maturity that will enable an effective multi-manager approach to this sector, with a growing universe of specialists managing diverse strategies in different countries.”

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