Assenagon Asset Management S.A.
Assenagon Credit Basis funds pass the 1 billion mark
Assenagon Asset Management S.A., Zweigniederlassung München / Product Launch/Miscellaneous 19.08.2010 12:40 Dissemination of a Financial News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Within a period of 14 months, Assenagon Asset Management S.A. has already collected EUR 1 billion with its two bond funds Assenagon Credit Basis and Assenagon Credit Basis II. Assenagon Credit Basis, which was launched in April 2009 and closed to new investments in August 2009 to avoid yield dilution, holds EUR 400 million of this amount. Assenagon Credit Basis II was launched in January 2010 and has since recorded a good EUR 600 million in inflows. Like its predecessor, Credit Basis II exploits imbalances on the capital markets, and enables private and institutional investors to profit from these. However, the fund management of Assenagon Credit Basis II has a wider range of investment instruments at its disposal. It can invest in sovereign bonds, corporate bonds, convertible bonds, tradable loans, asset backed securities and structured bonds. According to fund managers Dr. Jochen Felsenheimer and Dr. Wolfgang Klopfer, the current market environment continues to offer interesting investment opportunities. 'Market distortions have further increased due to problems at macro- and microeconomic level. Market-neutral basis strategies benefit from such a market environment,' noted Felsenheimer. About the fund management: Dr. Jochen Felsenheimer is Co-Head of Credit at Assenagon. In this function he is responsible for the development of this business division and manages the funds of the Credit Basis series. The economist with a doctorate from the LMU Munich is among the most renowned credit experts in Europe. Before joining Assenagon in January 2009, he successfully chaired European and Global Credit Strategy Research at Bayerische Hypo- und Vereinsbank AG (UniCredit Group). He regularly presents papers at national and international conferences and specialised congresses. He is the author of several books and scientific articles on the above mentioned topics. Dr. Wolfgang Klopfer is Co-Head of Credit at Assenagon, responsible for the development of this business area. In addition, he manages the funds of the Credit Basis series. Wolfgang Klopfer studied mathematics, physics and computer science and holds a Ph.D. in Mathematics from the Technical University of Munich. He is a specialist for trading activities in global credit markets and has contributed his expertise and long-time investment experience to Assenagon since January 2009. Before joining Assenagon, he worked for eleven years in responsible positions at Bayerische Hypo- und Vereinsbank AG (UniCredit Group), most recently as director of own-account trading as well as the capital-market related credit business including credit trading. About Assenagon: Assenagon is one of the fastest growing asset managers in Europe. Since the formation in 2007, institutional investors have entrusted the company with more than EUR 6 billion in assets. Assenagon's recipe for success is in principle very simple, but nonetheless difficult to copy. It combines experience, independence, profound risk sensitivity and innovative strength. The partners and team members in Munich and Luxembourg has seasoned experience in the finance sector. Through the company's independence, it is bound to one single goal: The success of its clients. Sabine Hilgner +49 89 519966-430 press(at)assenagon.com 19.08.2010 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Assenagon Asset Management S.A., Zweigniederlassung München Theresienhöhe 13 a 80339 München Deutschland Internet: www.assenagon.com End of News DGAP News-Service ---------------------------------------------------------------------------
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