LONDON (Reuters) - BlueBay Asset Management said on Tuesday assets under management for the three months to the end of March rose 8 percent to $18 billion (12 billion pounds) as its long-only funds drew net inflows.
The company, which specialises in credit funds, saw net inflows of $1.5 billion during the quarter though outflows continued in the group's long/short funds.
Many market commentators have said corporate debt offers attractive value to investors in the current environment.
Performance fees during the company's third quarter to the end of March are estimated at 10.4 million pounds compared with 8.1 million during the first half of the year, the company said.
"Overall fund performance in the first calendar quarter was good, with the majority of the firm's long-only funds well ahead of their benchmarks and its flagship long/short multi strategy fund returning 6.3 percent net of fees," Hugh Willis, BlueBay chief executive officer, said in a statement.
http://uk.reuters.com/article/fundsNews/idUKLNE53K01L20090421
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