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Challenger boutique launches three funds

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New Challenger Financial Services boutique fund manager Bentham Asset Management has opened up shop with three credit funds.

The Bentham Professional Global Income Fund invests in bank capital securities, global convertible bonds, syndicated loans, investment-grade corporate debt securities, high-yield bonds and cash.

The Bentham Professional Syndicated Loan Fund provides exposure to a highly-diversified portfolio of global, non-investment grade senior secured syndicated loans.

The Bentham Wholesale High Yield Fund invests in global high-yield bond markets, but will initially be available only to institutional investors.

Bentham Asset Management was formed when Challenger Financial Services took over financial services group Credit Suisse's former credit investment funds.

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The funds, which have a combined size of $1.5 billion, are managed by Bentham principal Richard Quin and portfolio managers Nik Persic and Mark Fabry.