Global Total Return Credit invests in a range of credit markets to provide total returns, including income and capital growth.
The Ninety One Global Total Return Credit (GTRC) strategy has been selected by UK master trust Cushon, for an allocation into its default investment strategy. As part of the partnership, GTRC will be added to the pension default strategy and to Cushon’s risk-rated funds and self-select options.
It will be managed by Jeff Boswell, head of alternative credit, and Darpan Harar,c o-portfolio manager.
GTRC invests broad range of credit marketsaims to provide total returns, comprising income and capital growth; it targets a return of Overnight SOFR plus four per cent gross of fees over a full credit cycle.
The fund also promotes environmental and social characteristics in line with Article 8 of the EU Sustainable Finance Disclosure Regulation (SFDR) and will not invest in certain sectors or investments.
Nigel Smith, managing director of the UK Client Group at Ninety One said the asset manager believed its specialist expertise was a natural fit.
Leonard Stimpfle, head of investment at Cushon said the addition of the multi-asset credit mandate improved the resilience of Cushon’s existing bond sleeve by diversifying our credit and shortening our duration exposure. Integration of climate risk and sustainability assessments is key for Cushon and we believe that Ninety One’s bottom-up sustainability framework is leading in the credit space. This addition to our default investment strategy will help our members secure long-term financial growth while having a positive contribution to the transition to net zero.”
