Aviva Investors has launched a new fund seeking consistent income from high yield corporate bonds.

The Global Short Duration High Yield Bond Fund will be geographically unrestrained and invest in bonds with an average maturity of less than five years.

“Addressing the duration of bond investments is an important step in this process as it defines both price volatility due to spread movement and interest rate risk investors are taking,” said Todd Youngberg, the firm’s global investment director of fixed income and head of high yield investments.

The fund is managed by Aviva Investors’ global high yield team, headed by Youngberg. The team has around $4.5 billion in assets under management and comprises five portfolio managers and 26 credit analysts based in the US, the UK, Europe and Asia-Pacific.