Investec Asset Management has added to its range of fixed income products with the launch of its Global Defensive Bond fund.

The fund will be managed by co-head of fixed income John Stopford and will invest in a range of global securities.

The offshore UCITS fund will also have the ability to short-sell bonds and currencies. The fund will target lower volatility than a global bond fund.

Stopford said, 'In our view, yields are more likely to rise than fall in the future, so for investors who have traditionally allocated to bond funds positioned to benefit from a falling yield environment, achieving returns is likely to be harder.

'In this fund, we are looking to hold assets that suit the economic environment and that offer value, avoiding or shorting those that do not.

'Having a more defensive starting point and flexibility should enable us to deliver returns in differing market environments.'

Minimum investment in the Luxembourg-domiciled is $3,000.

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