ABN Amro Launches Luxembourg Version Of Its High Yield Fund

Ulrika Lomas, Tax-news.com, Brussels

12 January 2001

ABN Amro Asset Management, part of Netherlands-based ABN Amro Bank NV, announced this week the launch of a Luxembourg version (SICAV) of its High Yield Fund - the AMN Amro High Yield Bond Fund. The Fund will be listed on the Luxembourg Stock Exchange from 30 January.

The High Yield Bond Fund will be managed in the same way as the High Yield Fund, which was set up for Dutch private and institutional investors at the end of May 2000. The new fund will be available for investors outside the Netherlands who wish to have access to global high yield bonds while controlling risk.

The Fund aims to provide interest income and capital appreciation through investments in high yield fixed interest securities mainly issued by European and American corporations. Additionally, the Fund may also invest in such securities issued by corporations located in other countries or regions or by governments, local authorities and public international bodies. All investments will be made in Euro or hedged to Euro.

The ABN Amro High Yield Bond Fund is part of ABN Amro Funds, an "umbrella fund" offering daily liquidity. The introduction price of the ABN AMRO High Yield Bond Fund is EUR 50, the minimum subscription is EUR 500 and the annual management fee is 1 per cent.

Recommended