XAIA Credit Basis II
XAIA Credit Basis II will profit from market discrepancies between cash instruments and the price for protection against default (so called »basis«). The investment universe consists of government bonds, corporate bonds, convertibles, tradable loans, ABS and structured bonds. Credit, interest rate and currency risks inherent in these instruments are most widely eliminated using the corresponding hedging techniques. Through active management of the basis, the fund targets a return of 3 Month Euribor plus 3 to 3.5% p.a. net of fees.