Nov 13 - Link to Fitch Ratings' Report: Parvest Bond Euro Corporate FundNov 13 - Fitch Ratings has assigned Parvest Bond Euro Corporate, a fund
managed by BNP Paribas Investment Partners (BNP IP; 'M2+'), a 'Strong' Fund
Parvest Bond Euro Corporate is a sub-fund of the Parvest Luxembourg SICAV.
Launched in July 2001, it is BNP IP's European Investment Grade corporate credit
flagship fund with EUR2.3bn of assets as of end-September 2012.
Relative to other low tracking error corporate funds, Parvest Bond Euro
Corporate benefits from a robust and well balanced investment process combines
the independent inputs of credit and macro-economic research in a disciplined
and formalised manner. Portfolio construction emphasises the diversification of
strategies and sources of performance, within a tight risk budgeting framework.
The fund benefits from the depth of BNP Paribas's fixed income and support
resources and robustness of the IT platform.
The fund (institutional share class) has a Lipper Leader Score for consistent
return of three over three and five years and four over ten years at end October
2012. The ability of the fund to outperform its peers in the Lipper Bond Euro
corporate category is constrained by the low target annual tracking error
relative to the Barclays Euro Aggregated Corporate index of 1-1.5%.
BNPP IP is the asset management arm of BNPP Paribas banking group
('A+'/Stable/'F1+'). BNPP IP had EUR237bn fixed income assets under management
or advisory as at September 2012, including EUR6.2bn in pure investment grade
Fitch's Fund Quality Ratings combine Fitch's experience in qualitative fund
analysis with rankings and performance data from Lipper, a Thomson Reuters
company. Fitch's Fund Quality Ratings offer an independent, forward-looking
assessment of a fund's key performance and risk attributes and consistency of
longer-term returns, relative to peer group or benchmarks. The ratings focus on
the fund manager's investment process, key fund performance drivers, risk
management, and the quality of the fund's operational infrastructure.Additional information is available at www.fitchratings.com. The ratings above
were solicited by, or on behalf of, the issuer, and therefore, Fitch has been
compensated for the provision of the ratings.
Applicable criteria, 'Fund Quality Rating Criteria', dated 19 September 2011,
are available at www.fitchratings.com.
Applicable Criteria and Related Research:
Fund Quality Ratings Criteria: Assessing Funds' Investment Processes and