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Alternative Market Briefing

PIMCO alums launch unconstrained credit fund

Wednesday, April 16, 2014

Bailey McCann, Opalesque New York:

The original architects of PIMCO's Unconstrained Bond Fund have teamed up for a new unconstrained fund utilizing their existing experience and best new ideas. The Anfield Universal Fixed Income Fund (AFLIX), takes a "go anywhere" approach to managing fixed income, seeking to be more opportunistically positioned compared to traditional, benchmarked core plus funds.

"As interest rates begin to normalize and inflation follows suit, fixed income investors need a flexible-core strategy that isn’t wed to a benchmark and has few investment restrictions in the attempt to achieve risk-managed returns regardless of interest rate movements," said David Young, CFA, Founder and Chief Executive Officer of Anfield in an interview with Opalesque. The strategy has been tested in separate accounts over the previous five years, creating a real money track record. Anfield is acting as the sole advisor to the fund.

The Fund, launched on June 28, 2013 and will offer investors access to the most compelling investment opportunities across a wide range of interest rate and market environments, security types, sectors, geographic locations, currencies and maturities, and can make long and short investments as necessary. "We aren't a benchmark, or a benchmark relative fund. The traditional benchmarked funds are going to be faced with a rising rates environment which will be challenging for them. Right now, we don't look like a core plus fund w......................

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