Investment boutique Muzinich & Co. has announced the launch of a Long/Short total return European credit strategy. The fund aims to generate attractive mid-to-high single-digit returns by investing in European credit markets in strong conviction trades. The strategy consists of a core long book combined with arbitrage and an overlay portfolio. With current corporate credit spreads at low levels and rates beginning to move upwards, Muzinich believes a L/S strategy gives the needed flexibility to deliver attractive returns.