High Yield Mid-Gradeas of December 31, 2016 Print

Logan Circle’s High Yield Mid-Grade strategy seeks to leverage our in-house 14 person credit research team in building fundamental research based, bottom-up portfolios. We believe that our pure style allows us to view the entire range of high yield securities from BBB to CCC. Our investable high yield mid-grade universe consists of all domestic high yield fixed income securities regardless of issue size or maturity, rated between BBB and B. Our High Yield Mid-Grade strategy focuses our clients’ portfolios on the best mid-grade ideas that pass through our investment process. Our deep research staff has the ability to look at credits inside the high yield credit universe and other situations that may be attractive on a risk return basis that are not in the universe.

We are a pure high yield manager and seek to generate the preponderance of our returns from high yield bonds and not other securities, such as convertible bonds or equities.

Assets Under Management:
$186 million
Portfolio Leadership Team:

Timothy L. Rabe, CFA
Brian D. Funk, CFA VIEW FULL TEAM
Benchmark:
Bank of America Merrill Lynch U.S. High Yield BB-B Constrained Index
Inception Date:
October 1, 2000
Download Fact Sheet

  SECTOR WEIGHTS (Range)
Target
Alpha1
Target
Tracking Error
100–200  basis points 150
basis points

CCC (or below)

High Yield Bonds
Emerging Markets
Convertibles and Preferreds

Cash

0%

85%–100%

0%–10%

0%–5%

0%–10%

1 Target Alpha is an investment objective and not a promise of future results or performance. It is calculated gross of fees over a 3 to 5 year time horizon. There can be no assurance that a portfolio will achieve its target alpha.

Investors should carefully consider their investment objectives, risks, fees, charges and expenses before investing any money. To obtain this and other information, please email asklogan@lcpim.com to request more information. Please review the Terms of Use of this site for additional details.