DDJ Capital Launches Opportunistic High Yield Fund, Offering Daily Liquidity, Lower Investment Minimum For High-Yield Strategy
WALTHAM, Mass., July 16, 2015 /PRNewswire/ -- DDJ Capital Management, a leading institutional leveraged credit investment management firm, is pleased to introduce the DDJ Opportunistic High Yield Fund (the Fund), the firm's first mutual fund offering that pursues its opportunistic high yield strategy.
The DDJ Opportunistic High Yield Fund, introduced to U.S. investors on July 16, responds to client demand for a fund with daily liquidity and at lower investment minimums than the firm had previously offered. The no-load Fund will be available to investors in an Institutional Class share (DDJIX) as well as a Class I share (DDJCX) and a Class II share (DDJRX). The minimum investments are $5 million for DDJIX, $1 million for DDJCX, and $2,500 for DDJRX.
"Faced with a persistent low-yield environment, investors continue to seek solutions that may provide higher current income and long-term capital appreciation," said Jack O'Connor, DDJ senior vice president and head of business development and client service. "We're pleased to offer this new Fund in response to demand for DDJ's opportunistic high yield strategy at a lower investment minimum and with daily valuation."
With its investment objective of overall total return consisting of current income and long-term capital appreciation, the Fund will seek to outperform the broader high yield market over a complete credit cycle by investing mainly in high yield fixed income securities with a focus on "middle market" issuers in the U.S. and, to a lesser extent, Canada. DDJ believes that the Fund's flexibility to invest, sell, and reinvest throughout the capital structure of an issuer -- and in particular, in both more senior bank loans and more junior high yield bonds -- will enable the firm to tailor its investment approach to the specific credit-related circumstances of that issuer and thereby select the most attractive opportunities for the Fund.
Anthony Ranaldi, DDJ executive vice president, principal, and senior portfolio manager, is leading the Fund's management team together with Joseph Lind, portfolio manager and principal. Mr. Lind also oversees DDJ's core high yield strategy. The portfolio managers are part of a larger DDJ investment team that also comprises professionals specialized in the areas of credit research, legal analysis, bankruptcy law, trading and business operational improvements.
"We expect continued volatility in the markets which can create opportunity," Ranaldi said. "One of the key potential advantages of DDJ's flexible mandate is our ability to position the fund appropriately between opportunistic and more conservative investments based on our view of the overall market environment."
ALPS Fund Services, Inc. serves as the fund administrator, accountant and transfer agent for the DDJ Opportunistic High Yield Fund. ALPS Distributors, Inc. serves as the Fund's distributor. DDJ Capital Management and ALPS Distributors, Inc. are not affiliated.
Investors can download a prospectus here www.ddjfunds.com/prospectus/ or obtain one by calling 1-781-283-8564. An investor should consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. Risks: It is possible to lose money on an investment in the Fund. Fixed-income investments are subject to interest rate risk; as interest rates rise, their value will decline. Lower-rated securities are subject to additional credit and default risks. Investments in bank loans, which are made by banks or other financial intermediaries to borrowers, will depend primarily upon the creditworthiness of the borrower for payment of principal and interest. Rule 144A securities are typically less active than publicly traded securities. Investments with low trading volumes may be difficult to sell at quoted market prices. The fund is new and has limited performance history.
For more information about DDJ Capital Management and the Fund, please visit www.ddjfunds.com.
About DDJ Capital Management, LLC
DDJ Capital Management is an institutional manager of high yield bond and loan strategies based in Waltham, Massachusetts. Established in 1996, DDJ currently manages over $8.5 billion on behalf of corporate and public retirement funds, insurance companies, endowments, foundations and family offices worldwide. DDJ's investment team consists of professionals highly specialized in the areas of credit research, legal analysis, bankruptcy law, portfolio management, trading and business operational improvements. For more information, please visit www.ddjcap.com.
Past performance is no guarantee of future returns.
SOURCE DDJ Capital Management, LLC
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