(Bloomberg) -- Threadneedle Asset Management Ltd., the London-based money manager that's owned by American Express Co., has sold the first bonds from a new fund pooling credit- default swaps.
The transaction, called Polestar, will earn a return for investors by buying and selling credit-default swaps on company bonds and bond indexes. The fund, which was structured by Royal Bank of Scotland Group Plc, has sold about $80 million of notes so far, and is targeting sales of $200 million.
Read more at Bloomberg Bonds News
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