SYZ launches OYSTER European Subordinated Bonds Fund to strengthen fixed income offering
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Banque SYZ SA /
SYZ launches OYSTER European Subordinated Bonds Fund to strengthen fixed income
offering
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The issuer is solely responsible for the content of this announcement.
PRESS RELEASE
Geneva, 3 October 2016 - SYZ Asset Management, the asset management division of
the SYZ Group, has launched the OYSTER European Subordinated Bonds fund. The new
strategy strengthens its existing fixed income range and offers investors access
to attractive yield in a low-income environment. The fund is managed by Milan-
based co-portfolio managers, Andrea Garbelotto and Antonio Ruggeri, both highly
experienced investors in European corporate bonds with a deep knowledge of the
subordinated debt market. The fund is registered in eleven European countries.
Subordinated bonds offer compelling income opportunities in the present low-
income environment
The asset class has rapidly evolved since the 2008 crisis. Since then it has
more than doubled, exceeding EUR 600 bn[1]. Continuously growing and primarily
dominated by banking and insurance, subordinated debt is increasingly issued by
utility, energy or telecom companies. Non-financial companies' issues have
quadrupled over four years and reached EUR 100 bn. Ninety-five per cent of
issuers have investment grade rating and solid fundamentals. In the company
capital structure, subordinated bond lies between equity capital and investor
debt. With current average yield similar to the high yield sector, subordinated
bonds offer investors new and attractive sources of return.
A strategy with diversified exposure to European subordinated bonds
The OYSTER European Subordinated Bonds invests in a broad universe of
subordinated bonds. The management team takes particular care of providing
diversification in terms of sector (across banks, insurance, non-financials) and
seniority (across a lower part of the capital structure). Assessing liquidity
and the fundamental analysis of both issue and issuer are vital to the long-
term, high-conviction strategy. The liquidity of instruments is key to the
fund's process, and only the most liquid bonds are considered for investing. The
portfolio managers have developed proprietary models to select bonds. They
analyze both issue and issuer fundamentals to achieve high return with minimized
intrinsic risks. The strategy appeals to investors seeking diversification in
their bond allocation, as well as those searching for higher yielding bonds.
Managed by two highly experienced investors in European corporate bonds
Andrea Garbelotto and Antonio Ruggeri have a proven track-record of successfully
managing the OYSTER European Corporate Bonds fund. Since launch in 2003[2],
their strategy achieved a total return performance of +79.02% (as of
31.08.2016), outperforming the reference index[3] by 1.15%. Over the years, they
have also built strong expertise in subordinated bonds, leading to the launch of
the OYSTER European Subordinated Bonds Fund. The team was bolstered in 2015 by
the arrival of credit analyst Luigi Pedone, specialist in subordinated bonds and
expert in financial regulation.
Andrea Garbelotto said: "We started to invest in subordinated bonds after the
2008 crisis: at that time, market fears severely impacted the entire financial
sector and pushed valuations down. Since then, we have gradually built our
exposure to the segment and developed proprietary models to select the best
mispriced opportunities."
Katia Coudray, Chief Executive Officer, SYZ Asset Management commented: "We see
a lot of investment opportunities in the subordinated bond market. The financial
sector is deleveraging and this trend is likely to continue. Andrea and Antonio
have had a long focus on targeting higher-yielding corporate bonds and managing
their portfolios with conviction. I am proud to have such a proven and engaged
team focused on delivering long-term in this exciting area of the market. It
presents a new solution to our investors and evolves our fixed income offering."
The new strategy complements SYZ Asset Management's wide ranging Fixed Income
offering such as the OYSTER European Corporate Bonds, OYSTER Euro Fixed Income,
OYSTER Flexible Credit, OYSTER Global Convertibles, OYSTER Global High Yield and
OYSTER USD Bonds funds.
The OYSTER European Subordinated Bonds fund is registered in eleven European
countries: Austria, Germany, Belgium, France, Italy, Luxembourg, Spain,
Netherlands, Sweden, Switzerland and United Kingdom.
For further information, please contact:
Moreno Volpi
Tel.: +41 (0)58 799 16 98
E-mail: moreno.volpi(at)syzgroup.com
Administrative information
OYSTER European Subordinated Bonds
+-------------------------+--------------+----------+-----------+
| Available share classes | ISIN | Mgmt Fee | Perf. fee |
+-------------------------+--------------+----------+-----------+
| Class C EUR | LU1457568472 | 1.20% | None |
+-------------------------+--------------+----------+-----------+
| Class I EUR | LU1457568043 | 0.65% | None |
+-------------------------+--------------+----------+-----------+
| Class R EUR | LU1457568399 | 0.80%[4] | None |
+-------------------------+--------------+----------+-----------+
Risk profile:
Lower risk Higher risk
Typically lower rewards Typically higher rewards
1 2 3 4 5 6 7
OYSTER European Corporate Bonds
+-------------------------+--------------+----------+-----------+
| Available share classes | ISIN | Mgmt Fee | Perf. fee |
+-------------------------+--------------+----------+-----------+
| Class C EUR | LU0167813129 | 1.00% | None |
+-------------------------+--------------+----------+-----------+
| Class I EUR | LU0933609827 | 0.45% | None |
+-------------------------+--------------+----------+-----------+
| Class R EUR | LU0335770011 | 0.60% | None |
+-------------------------+--------------+----------+-----------+
Risk profile:
Lower risk Higher risk
Typically lower rewards Typically higher rewards
1 2 3 4 5 6 7
OYSTER Euro Fixed Income
+-------------------------+--------------+----------+-----------+
| Available share classes | ISIN | Mgmt Fee | Perf. fee |
+-------------------------+--------------+----------+-----------+
| Class C EUR | LU0095343264 | 0.90% | None |
+-------------------------+--------------+----------+-----------+
| Class I EUR | LU0335770102 | 0.55% | None |
+-------------------------+--------------+----------+-----------+
| Class R EUR | LU0933610080 | 0.70% | None |
+-------------------------+--------------+----------+-----------+
Risk profile:
Lower risk Higher risk
Typically lower rewards Typically higher rewards
1 2 3 4 5 6 7
OYSTER Flexible Credit
+-----------------------+------------+--------+------------------------------+
|Available share classes|ISIN |Mgmt Fee|Perf. fee |
+-----------------------+------------+--------+------------------------------+
|Class C EUR PR |LU1045039002|1.75% |20.00% Relative Euribor 1M TR*|
+-----------------------+------------+--------+------------------------------+
|Class R EUR PR |LU1045038962|1.05% |20.00% Relative Euribor 1M TR*|
+-----------------------+------------+--------+------------------------------+
* The percentage indicated for the performance fee applies to net annual
outperformance relative to the following benchmark: Euribor 1M TR
Risk profile:
Lower risk Higher risk
Typically lower rewards Typically higher rewards
1 2 3 4 5 6 7
OYSTER Global Convertibles
+-------------------------+--------------+----------+-----------+
| Available share classes | ISIN | Mgmt Fee | Perf. fee |
+-------------------------+--------------+----------+-----------+
| Class C EUR | LU0418546858 | 1.45% | None |
+-------------------------+--------------+----------+-----------+
| Class I EUR | LU0933610163 | 0.80% | None |
+-------------------------+--------------+----------+-----------+
| Class R EUR | LU0435362065 | 0.90% | None |
+-------------------------+--------------+----------+-----------+
Risk profile:
Lower risk Higher risk
Typically lower rewards Typically higher rewards
1 2 3 4 5 6 7
OYSTER Global High Yield
+-------------------------+--------------+----------+-----------+
| Available share classes | ISIN | Mgmt Fee | Perf. fee |
+-------------------------+--------------+----------+-----------+
| Class C USD | LU0688633410 | 1.20% | None |
+-------------------------+--------------+----------+-----------+
| Class I USD | LU0688633840 | 0.80% | None |
+-------------------------+--------------+----------+-----------+
| Class R USD | LU0933610247 | 0.95% | None |
+-------------------------+--------------+----------+-----------+
Risk profile:
Lower risk Higher risk
Typically lower rewards Typically higher rewards
1 2 3 4 5 6 7
OYSTER USD Bonds
+-------------------------+--------------+----------+-----------+
| Available share classes | ISIN | Mgmt Fee | Perf. fee |
+-------------------------+--------------+----------+-----------+
| Class C USD | LU0970691076 | 0.90% | None |
+-------------------------+--------------+----------+-----------+
| Class I USD | LU0970691233 | 0.55% | None |
+-------------------------+--------------+----------+-----------+
| Class R USD | LU0970691159 | 0.70% | None |
+-------------------------+--------------+----------+-----------+
Risk profile:
Lower risk Higher risk
Typically lower rewards Typically higher rewards
1 2 3 4 5 6 7
The prospectus, the key investor information documents, the articles of
association and the annual and semi-annual reports on the funds are available
from the representative and payment agents.
Note to the Editor
About OYSTER Funds
OYSTER is a UCITS investment fund range, developed by SYZ Asset Management to
address the needs of a diversified client base including professionals. With a
strong commitment to performance, this Luxembourg SICAV comprises nearly 30 sub-
funds, covering a variety of asset classes, markets and investment styles.
OYSTER is currently registered and/or distributed in various European and Asian
countries through a varied distribution network. To satisfy a discerning and
demanding client base, SYZ Asset Management entrusts management of its OYSTER
funds to internal and external fund managers. A number of strategies have
resulted in certain sub funds being the recipients of internationally recognised
awards.
About SYZ Asset Management*
SYZ Asset Management, the institutional asset management entity of the SYZ
Group, provides investment solutions to institutional investors and financial
intermediaries. Based on a strong conviction approach, SYZ Asset Management
strategies are designed to fulfil the portfolio and risk management requirements
of demanding investors.
The company offers managed accounts and several ranges of investment funds,
among which OYSTER Funds, a UCITS Luxembourg SICAV, offering a diversified range
of recognized products covering a variety of asset classes and investment styles
entrusted to internal and external fund managers.
SYZ Asset Management was awarded "Best Swiss Asset Management Company" in the
category "26 to 40 rated funds" at the European Funds Trophy 2016.
www.syzassetmanagement.com
*Any reference to SYZ Asset Management in this document should be construed as
being a reference to any one or more of the legal entities, listed below,
dependent on the particular jurisdiction in which the document is published,
subject to the investment products and services referred to herein being
available to potential investors or categories of investors in such
jurisdictions.
SYZ Asset Management (Luxembourg) SA, SYZ Asset Management (Suisse) SA, SYZ
Asset Management (Europe) Limited, SYZ (France) SAS.
About SYZ Group
Founded in Geneva in 1996, SYZ is a fast growing Swiss banking group exclusively
dedicated to asset management, through two complementary business lines: high-
end private banking and institutional asset management. SYZ offers private and
institutional investors comprehensive portfolio management, with an active
investment style and a focus on risk reduction that is clearly committed to
providing absolute performance through alpha generation.
SYZ is an independent, family-owned company with a global footprint. The Group
has approximately CHF 39 billion in assets under management (EUR 36 billion, USD
39 billion), a solid capital base and benefits from being privately held and
independent.
www.syzgroup.com
Contacts
OYSTER Sicav SYZ Asset Management
11-13 Boulevard de la (Luxembourg) SA
Foire 54 rue Charles Martel
L-1528 Luxembourg L-2134 Luxembourg
info(at)oysterfunds.com Tel. : +352 26 27 36 1
REPRESENTATIVES
Switzerland Germany Italy
---------------------------- ------------------------- ------------------------
Service de paiement Zahlstelle Soggetto incaricato dei
Banque SYZ SA BHF-BANK AG pagamenti
Rue du Rhône 30 Bockenheimer RBC Investor Services
CH-1204 Genève Landstrasse 10 Bank SA Succursale di
Tel. : +41 (0)58 799 19 05 D-60323 Frankfurt Milano
Tel.: +49 (0)69 Vie Vittor Pisani 26
718 22 75 I-20124 Milano
Tel.: +39 02 305 756 1
Soggeto incaricato dei
France pagamenti
------------------------- State Street Bank SpA
Représentant Agent centralisateur Via Col Moschin 16
SYZ Asset Management BNP Paribas Securities I-20136 Milano
(Suisse) SA Services Tel.: +39 02 879 671 53
Rue du Rhône 30 9 rue du Débarcadère
CH-1204 Genève F-93500 Pantin Soggeto incaricato dei
Tel.: +41 (0)58 799 19 05 Tel. : pagamenti
+33 1 57 43 12 58 Société Générale
Securities Services SpA
Via Benigno Crespi
19/A-MAC 2
Spain Austria I-20159 Milano
---------------------------- ------------------------- Tel.: 39 02 917 846 61
Entidad comercializadora Zahlstelle
Allfunds Bank Raiffeisen Bank Soggeto incaricato dei
C/ Estafeta Nº6 (La International AG pagamenti
Moraleja) Am Stadtpark 9 Allfunds Bank SA
Complejo Pza. de la A-1030 Wien Via Santa Margherita 7
Fuente- Edificio 3 Tel.: +43 (0)1 717 070 I-20121 Milano
28109 Alcobendas Tel.: +39 02 896 283 01
Tel.: +34 (0)91 274 64 00
Belgium Sweden
------------------------------------------------------
Agent financier - Paying Agent
Financiële agent MFEX Mutual Funds
Caceis Belgium SA Exchange AB
Avenue du Port 320 Linnégatan 9-11
Havenlaan 86C b 114 47 - Stockholm
B-1000 Bruxelles Sweden
Tel. : +32 (0)2 209 26 40 Tel.: +46 (0)8
559 03 650
United Kingdom
---------------------------- -------------------------
Representative
SYZ Asset Management
(Europe) Limited
Authorised and Regulated
by the FCA
Southwest House
11a Regent Street
London SW1Y 4LR
Tel: +44 (0) 20 30 400 500
Disclaimer
OYSTER SICAV is an open-ended multi-fund investment company established and
regulated in Luxembourg. Copies of the SICAV's current Prospectus and Key
Investor Information Document can be obtained from SYZ Asset Management
(Luxembourg) SA. Past performance is not a guide to the future, and the value of
investments can fall over time as well as rise. An investment in sub-funds of
OYSTER SICAV involves risks that are more fully described in the Prospectus. The
content of this media release is provided solely for information purposes and
constitutes neither a recommendation to buy or sell. Always consider taking
independent investment advice from a person properly authorized and regulated
prior to investing.
--------------------------------------------------------------------------------
[1] Source: Bloomberg, BofA Merrill Lynch, data at end of 2015
[2] OYSTER European Corporate Bonds C EUR, launched on 10 June 2003
[3] Reference index : BofA Merrill Lynch Euro Corporate TR EUR
[4] The net management fee is set at 0.4% for the first twelve consecutive
months following the launch date of this Sub-fund
Antonio RUGGERI:
http://hugin.info/166509/R/2046200/764603.jpg
Andrea GARBELOTTO:
http://hugin.info/166509/R/2046200/764602.jpg
Press release:
http://hugin.info/166509/R/2046200/764610.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Banque SYZ SA via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 03.10.2016 - 11:42 Uhr
Sprache: Deutsch
News-ID 498269
Anzahl Zeichen: 21104
contact information:
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Kategorie:
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