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Alternative Market Briefing

Australia's Perpetual goes with Thornburg on fixed income

Wednesday, February 12, 2020

Bailey McCann, Opalesque New York:

Australia's Perpetual has invested in Thornburg's Multisector Opportunistic credit strategy.

The Multisector Opportunistic strategy is global and income-oriented with a flexible mandate. The portfolio invests in a combination of income-producing securities with an emphasis on higher-yielding fixed income. The strategy was incepted in 2008 and is co-managed by Jason Brady, Jeff Klingelhofer, Lon Erickson, and Christian Hoffmann.

Perpetual will be investing through both a separately managed account and a new fund. The exposure will be reflected in Perpetual Private's Implemented Fixed Income Portfolio and Fixed Income Model Portfolios respectively. "Thornburg provides our portfolios with a simplified and transparent exposure to an unconstrained credit strategy," said Theo Sofios, head of multi-manager for Perpetual.

This is the second bit of fixed income news from Perpetual in as many weeks. Last week, Perpetual acquired Trillium Asset Management, an ESG fixed income specialist firm. Perpetual paid $36 million plus an earnout for the manager.

In a statement, Perpetual said that through the acquisition it could bring new ESG investment opportunities to Australia and also has plans to expand Trillium's footprint to other global markets.

Trillium, which manages $3.8 billion, will retain its name, Boston-based office, and staff.......................

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