Zurich-based Fisch Asset Management, which recently entered the Middle East on the back of increased investor appetite for bonds, said it has boosted its assets under management by $410 million to $9.6 billion in the first half of 2016. 

Patrick Gügi, CEO of Fisch Asset Management, said: "This first half has been difficult for the asset management industry, marked by various disruptions and uncertainties in the financial markets, but we have performed well and are very satisfied with our results. The highest inflows have come in our convertible bond funds, confirming that investors are seeking 'cautious equity investment' in the current situation."

For Fisch Asset Management, 2016 as a whole will be a year of continuous expansion of the portfolio management team and especially of the firm’s credit expertise.

Credit analysis has been an important focus for Fisch’s research efforts in the Middle East.

The asset manager has, since May, published a number of independent credit reviews for major regional issuers, including Emirates Airlines (rated BBB- for the issuance of senior unsecured debt), Saudi Telecom Company (rated A-) and Kuwait sovereign (rated A).

Hansjörg Herzog, Head of Marketing & Sales International, said: "Our focused expansion and our steadfast professionalism enable us to systematically grow our 'home markets' while successfully accessing new, demanding markets. One such market is the Middle East, where we have identified a growing appetite for fixed income investment, and specifically for bond strategies. We are therefore confident of increasing our inflows in this region during the coming year.”

Gügi concluded: “The first half of the year saw us invest in our multi-asset portfolio management team by hiring Robert Koch, as well as expand our credit expertise by adding experienced high yield specialist Kyle Kloc. Our growing credit expertise in portfolio management and the competence of our subsidiary, credit research experts Independent Credit View, is a key feature allowing us to offer added value to investors. This is evident, for example, in the high yield segment, one of the most challenging asset classes, in which we have managed a fund with impressive performance for more than ten years."