France’s Oddo Asset Management is to launch Oddo Haut Rendement 2017, a target-dated fund which invests in corporate and convertible bonds. A target-dated fund classically has investment policies that become more conservative as the date approaches, often attempting to lock in any gains and aimed at, for example, people due to retire near the target date.

Xavier Hoche, Muriel Blanchier and Anne-Claire Daussun - who are also responsible for the Oddo Rendement 2017 Fund - manage Oddo Haut Rendement 2017, and will be joined by analyst Laure Desbrosses. 

The firm said in a statement that the fund aims to offer a high yield by selecting bonds with a maturity that does not extend over six months beyond 31 December 2017.

Other features include a gross annual maturity of 7.25 per cent (as at 2 May), a discretionary management style based on stock analysis, and a diversified portfolio which offers the possibility of investing up to 50 per cent of assets outside of Europe.

The subscription period for the fund – which has been submitted for registration in Switzerland - ends on 30 November.

Oddo Asset Management had €11.2 billion (about $14.5 billion) in assets under management at end-November. The firm has offices in Paris, Frankfurt, Zürich, Milan and Dubai, and is a subsidiary of Oddo & Cie.