At a glance
- TCW launched the fund last year.
- The fund aims for a net return of 8% to 10% a year and is offered on Schwab, Fidelity and Pershing.
- Advisors custodied on those platforms can review TPAY within their existing product shelf.
TCW's TPAY private asset income fund is about to cross $600 million in assets, Dhruv Nagrath, a TCW portfolio specialist in asset-backed finance, told InvestmentNews at Schwab IMPACT in Boston on Oct. 28. TCW launched the fund last year. Nagrath said it is TCW's first fund in asset-backed finance and offers pure-play exposure to the strategy.
The fund aims for a net return of 8% to 10% a year and is offered on Schwab, Fidelity and Pershing. Nagrath described it as short-duration, high-yielding exposure that can diversify concentrated direct lending and public fixed income allocations.
Advisors custodied on those platforms can review TPAY within their existing product shelf. The return figure is a target, not a realized return, and the asset figure is Nagrath's estimate.
TCW put the U.S. asset-backed finance market at about $5 trillion last year; Guggenheim estimated the global market at about $25 trillion.
Reported by the RIA desk from InvestmentNews. Published . Corrections