Wells Fargo AM launches US dollar investment grade credit fund

For Smith and Terry

Wells Fargo Asset Management has launched a dollar-denominated investment grade credit fund to be co-managed by Scott Smith and Jonathan Terry.

The UCITS fund is a sub-fund of the existing Wells Fargo (Lux) Worldwide fund and has raised $100m of client assets since launching on 15 December 2016. It invests in US dollar-denominated credit debt securities rated investment grade at the time of purchase, and focuses on bottom-up credit research with, specifically well-underwritten credits and relative value. The vehicle seeks to balance income while targeting a competitive yield to drive total returns. Wells Fargo AM adds two funds to UK range The fund will be co-managed by Smith (pictured), managing director and senior portfo...