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Muzinich & Co

PRI reporting framework 2020

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Basic information

OO 01. Signatory category and services

01.1. Select the services and funds you offer

Select the services and funds you offer
% of asset under management (AUM) in ranges
Fund management
Fund of funds, manager of managers, sub-advised products
Other
Total 100%

Further options (may be selected in addition to the above)

01.2. Additional information. [Optional]

Muzinich & Co. (“Muzinich” or the “Firm”, comprising the affiliates presented in this questionnaire, except where specified or where specific affiliates are named) is a global institutional asset management firm, headed by parent company, Muzinich & Co., Inc.  Muzinich is specialized in public and private corporate credit and offers investors an array of pooled vehicles and customized strategies in separate accounts. For 30 years, we have focused on delivering superior risk-adjusted returns in a variety of market conditions.

We believe our credit team is among the most experienced in the industry and is strengthened by our high inclusion of women at the senior-most levels of the Firm globally. Our investment offerings include high yield bonds (traditional and short duration), alternative credit/absolute return strategies, syndicated loan, private debt, aviation finance, investment grade corporate and corporate-plus strategies, across developed and emerging markets. We work very closely with our investors to meet their risk-return requirements.

We are committed to the highest standards of integrity, transparency and corporate governance and maintain a rigorous commitment to risk control.

We are headquartered in New York with offices in Dublin, Frankfurt, Geneva, London, Madrid, Manchester, Milan, New York, Paris, Singapore and Zurich. Our global perspective allows us to build diversified, dynamic portfolios.

Muzinich's range of corporate credit investment strategies is designed to satisfy today's institutional requirements for performance, risk control, transparency, and, with regard to public debt instruments, liquidity. Investment strategies target income generation and long-term capital growth with limited volatility. For separate accounts and dedicated Funds, strategies can be tailored to meet specific client investment objectives, risk guidelines, and legal constraints.

For example, Muzinich structures products across a wide variety of jurisdictions and in multiple currencies. The Firm creates portfolios with individualized ratings and duration guidelines, geographic mixes, concentrations, investment instruments, socially-responsible screens and best-in-class Environmental, Social, Governance ("ESG") strategies.

 

OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

United States

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

202 FTE

02.4. Additional information. [Optional]

Muzinich & Co., Inc. was founded in New York by George Muzinich in 1988. The Firm started managing high yield corporate bond portfolios in September 1990. Since its beginning, the Firm has focused on a relationship-based institutional business that has stressed the importance of producing consistently attractive risk-adjusted returns from research-intensive investments in corporate credit.

In 1999 the Firm added a wholly-owned London subsidiary, Muzinich & Co. Limited, to oversee the European strategies among our client portfolios and created Muzinich & Co. (Ireland) Limited, its Management Company in Ireland. Both the New York and London offices are staffed with portfolio management, investment research, trading, compliance, marketing/client service, and administrative professionals. Accounting and operations functions for public debt strategies are domiciled primarily in the Firm's New York headquarters. In 2005, Muzinich added a Cologne office (which relocated to Frankfurt in April 2016); in 2009, a Paris office; in 2013, a Zurich office; in 2014, a Milan office; in 2015, Madrid and Manchester offices; in 2017, Singapore and Dublin offices; and in 2019, a Geneva office. The Zurich, Paris, Milan, Madrid and Manchester offices house client relations and private debt professionals, while the Singapore office houses both public debt investment and client relations professionals. The Geneva office houses client relations professionals. The Dublin office houses private debt, finance and risk and compliance professionals. In 2018, Muzinich & Co. Limited purchased Springrowth S.G.R. S.p.A., an Italian asset management company. In the same year, the Dublin office was branded Muzinich & Co. (Dublin) Limited, which is a MiFID firm, and a wholly owned subsidiary of Muzinich & Co., Inc., as part of our Brexit contingency plan.

 

OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]

Muzinich & Co., Inc., the parent company, together with its global affiliates, is the signatory to the PRI. The Firm thinks about global assets under management in one umbrella and requires the implementation of our responsible investment policies and practices globally.

OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/12/2019

04.2. Indicate your total AUM at the end of your reporting year.

Include the AUM of subsidiaries, but exclude advisory/execution only assets, and exclude the assets of your PRI signatory subsidiaries that you have chosen not to report on in OO 03.2
Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.4. Indicate the assets which are subject to an execution and/or advisory approach. Provide this figure based on the end of your reporting year

04.5. Additional information. [Optional]

Muzinich focuses predominantly on managing corporate credit investments including investment grade and high yield bonds (traditional and short duration), alternative credit/absolute return strategies, syndicated loans, private debt and corporate-plus strategies, across developed and emerging markets.

OO 06. How would you like to disclose your asset class mix

06.1. Select how you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity 0 0 0 0
Fixed income >50% 100 0 0
Private equity 0 0 0 0
Property 0 0 0 0
Infrastructure 0 0 0 0
Commodities 0 0 0 0
Hedge funds 0 0 0 0
Fund of hedge funds 0 0 0 0
Forestry 0 0 0 0
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash 0 0 0 0
Money market instruments 0 0 0 0
Other (1), specify 0 0 0 0
Other (2), specify 0 0 0 0

06.2. Publish asset class mix as per attached image [Optional].

06.3. Indicate whether your organisation has any off-balance sheet assets [Optional].

06.5. Indicate whether your organisation uses fiduciary managers.

06.6. Provide contextual information on your AUM asset class split. [Optional]

Muzinich focuses on the credit-intensive management of US, European, Emerging Market and Global corporate credit, ranging in credit quality from high yield to investment grade.
Muzinich offers bond, syndicated loan, total return, short duration, global tactical, private debt, long-short and credit alternative strategies. This range of corporate credit investment strategies is designed to satisfy today's institutional requirements for performance, risk control, liquidity and transparency. Each investment strategy targets income generation and long-term capital growth with limited volatility and can be tailored to meet specific client investment objectives, risk guidelines, and legal constraints.
For example, Muzinich structures products across a wide variety of jurisdictions and in multiple currencies, hedged to mitigate currency risk. The Firm creates portfolios with individualized duration profiles, ratings guidelines, geographic mixes, concentrations, investment instruments and environmentally and socially-responsible policies.

OO 07. Fixed income AUM breakdown (Private)

OO 08. Segregated mandates or pooled funds (Not Applicable)

OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

85.15 Developed Markets
8.46 Emerging Markets
6.39 Frontier Markets
0 Other Markets
Total 100% 100%

09.2. Additional information. [Optional]

Please note that Muzinich is providing information by country of risk, rather than country of domicile.
 
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