CIFC Global Floating Rate Credit Fund Launches on the DMS UCITS Platform
Waystone, formerly DMS Governance (“DMS”), the world’s leading governance + risk + compliance firm, together with CIFC Asset Management LLC (“CIFC”), a U.S. credit manager, are pleased to announce the launch of the CIFC Global Floating Rate Credit Fund (the “Fund”), an open-ended, Irish collective portfolio management vehicle authorised by the Central Bank of Ireland as a UCITS. The Global Floating Rate Credit Fund’s investment objective is to generate attractive long-term, risk-adjusted returns primarily by investing in and managing a portfolio of U.S. and European debt. The Fund will invest in some of the more liquid sectors of collateralised loan obligation (CLO) bonds, investing at least half of its funds in BBB-rated bonds.
“DMS is delighted to be partnering with CIFC to facilitate its European UCITS fund and distribution strategy. CIFC is an extremely high-quality manager and our partnership demonstrates its commitment and confidence in the DMS product and its team. We look forward to working with CIFC to develop a successful and long-standing relationship,” commented Conor MacGuinness, the Global Head of Onboarding and Relationship Management of Waystone Europe.
CIFC Europe’s Managing Director, Joshua Hughes added: “We believe the Fund will appeal to discretionary wealth managers, funds of funds managers and family offices who want to access the enhanced returns that the CLO market offers without the liquidity and diversification challenges that direct investments in CLOs would entail. The UCITS structure gives investors confidence and builds upon the quality of the team we have working on the management and distribution of the fund.”
Waystone’s UCITS & European Fund Management Solutions
Waystone is the worldwide leader in European fund management representing leading investment funds and managers. Waystone is a global institutional firm that excels in delivering high-quality services across a diverse range of investment fund structures and strategies. We are proud to be the leading independent provider of AIFM, UCITS Management Company and MiFID services to many of the largest institutional investors and asset managers globally.
CIFC Asset Management, LLC
Founded in 2005, CIFC is a credit manager with over $21.0Bn of assets (as of 31/12/2018) under management specializing in corporate and structured credit strategies. Headquartered in New York, CIFC is a SEC registered investment adviser. Serving institutional investors globally, CIFC is one of the largest managers of senior secured corporate credit. For more information, please visit CIFC’s website at www.cifc.com.
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