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The Zenith fund focuses on investment opportunities in the European high yield corporate bond market, allocating to both sub-investment grade and stressed debt instruments. The investment process is based on a credit intensive, fundamental, bottom-up approach with a particular emphasis on the risk/reward ratio of each position and the management of the liquidity of the portfolio through nimbleness and efficient position sizing.

The fund will continue to be managed by Alex Vaskevitch, whom since taking over as fund manager in October 2008 has delivered to investors net returns in excess of 70%.

Alex will be fully integrated within Serone’s existing investment team. The combination of his high yield expertise with the Serone team’s credit experience will create numerous synergies and will prove beneficial to the fund’s investors. Alex’s focus on liquid credit investments is very complementary to Serone’s existing product offering of structured credit and distressed/NPL portfolios.

Serone believes that credit currently offers a very attractive risk/return profile compared to other asset classes, and is committed to offering its investors high quality asset management capabilities across the entire credit spectrum. Serone believes that European credit markets, and corporate high yield in particular are dislocated and sees tremendous investment opportunities in both the short and long term.

(press release)

Serone Capital Management LLP (“Serone”) is an asset management and advisory firm with a focus on European credit opportunities. Serone is authorised and regulated by the FSA since 2010. www.seronecapital.com

See our 2009 coverage of the Zenith High Yield Bond fund:
Opalesque Exclusive: LNG's credit fund up 32.4% YTD, managers believe high yield bonds will continue to be attractive asset class over medium and long-run Source

BG