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Plenisfer launches Destination Dynamic Income Total Return
Investment Funds

Plenisfer launches Destination Dynamic Income Total Return

The Fund will invest globally in government bonds, corporate investment grade, and high yield, emerging markets bonds.
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15 MAY, 2023

By RankiaPro Europe

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Plenisfer Investments SGR S.p.A. (“Plenisfer”) announces his new fund Destination Dynamic Income Total Return (“Fund” or “Sub-Fund” or “DDI”), a multi-strategy* total return bond solution.

Destination Dynamic Income Total Return starts with an initial capital of 50 million Euros. The investment was made by the Generali Group, a strategic partner and shareholder of Plenisfer which operates within the Generali Investments ecosystem. In detail, the new sub-fund belongs to the Luxembourg vehicle UCITS OICVM (Undertaking for Collective Investment in Transferable Securities) Plenisfer Investment Sicav of which Plenisfer is delegated to manage.

Destination Dynamic Income Total Return offers investors a multi-strategy*, diversified, and global bond allocation aiming to achieve an average annualized return of 4% over a market cycle. Plenisfer aims to achieve this objective through an active, flexible, and dynamic management capable of generating value in relation to the various phases of the economic cycle and interest rates, and the direction of credit markets.

The Fund will invest globally in bonds (government, corporate investment grade, and high yield, emerging markets)* convertible and non-convertible, currencies, with particularly flexible duration* ranging from -5/+ 20 years. The base currency of Destination Dynamic Income Total Return is Euro.

Diversification - in terms of issuers, sectors, credit quality, subordination, and geographical area - will be managed by Plenisfer's distinctive approach. Plenisfer, indeed, invests without the constraints imposed by benchmarks* aiming at clear risk and return objectives, selecting, globally and through the lens of proprietary strategies, individual investment ideas across the entire capital structure.

The management of Destination Dynamic Income Total Return will, in particular, leverage three strategies:

Income (core): designed to offer a stable source of income, will invest in investment grade debt, high yield, bank debt, convertible bonds, and contingent convertibles* (CoCos). 

Macro Opportunities: Plenisfer's vision and expectations on interest rates, inflation, and currencies, geographical areas, and sectors, will be reflected in top-down investments and will guide the strategy of protection against market fluctuations with respect to both interest rate and credit risk.

 • Special Situations: specific and uncorrelated investments in opportunities generated by specific factors in the Stressed & Distressed Debt* area.

The Lead Portfolio Manager of the Sub-Fund will be Mauro Ratto, Co-Founder and Co-CIO of Plenisfer. Mauro Ratto has over thirty years of experience in flexible bond management. He was Lead Portfolio Manager of the Pioneer Euro Strategic Bond fund.

Mauro Ratto will be supported by Stefan Benedetti, Senior Portfolio Manager Special Situations*, with a twenty-year track record in the High Yield and Emerging Markets* sectors, as well as by the Plenisfer research team.

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