High Yieldas of December 31, 2016 Print

Logan Circle’s High Yield 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. Therefore, our investable high yield universe consists of all domestic high yield fixed income securities regardless of rating, issue size or maturity. We invest our portfolios in the entire high yield universe without a predetermined risk or style bias, which we believe is unique in the universe of high yield managers. Depending on client guidelines, up to 30% of high yield portfolios can be invested in CCC rated securities. 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:
$1,803 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 Master II Constrained Index
Inception Date:
October 1, 2000
Download Fact Sheet
Available Vehicles:

Registered Mutual Fund
Limited Partnerships

  SECTOR WEIGHTS (Range)
Target
Alpha1
Target
Tracking Error
150–250  basis points 200
basis points

CCC (or below)

High Yield Bonds
Emerging Markets
Convertibles and Preferreds

Cash

0%–30%

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.