PIMCO is launching a bank capital securities fund in conjunction with family office Fleming Family & Partners (FF&P) to take advantage of new regulations implemented under Basel III.
The PIMCO Capital Securities fund will be managed by PIMCO’s executive vice president and head of European credit Philippe Bodereau, and will be domiciled in Dublin. The fund, which soft-launched on 16 May, will invest in high yield debt issued by banks, including contingent convertibles (CoCos) market, as well as existing tier one debt. The fund aims to exploit the opportunities created by Basel III, which it said will remove the tier one status from certain types of bank debt. FF&P, which provided the seed capital and contributed to the investment strategy, said the fund will exp...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
