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Tenax Hunts Gems Among Europe’s Unloved Credit Markets (Wealth Briefing)

Date Posted: 04 July 2012

The Tenax Credit Opportunities Fund concentrates on buying discounted loans and bonds issued by European firms; it does not focus on governments or banks. Critically, the fund principally holds senior secured debt – seniority is vital – so that all possible angles are covered if a default happens. And by investing in this way, firms that are basically solid propositions can get the funding they need. "If you think about it as a car race, we have built a Land Rover for some tough going, and we wouldn’t be very competitive on a track!” said Michael Guy, senior portfolio manager.

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