High Yield Mid-Gradeas of June 30, 2018 Print

The High Yield Mid-Grade strategy seeks to outperform the benchmark while maintaining a similar level of volatility by investing primarily in U.S. corporate fixed income securities rated below investment grade. 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. This strategy focuses on the best mid-grade ideas that pass through our investment process. Our deep credit research staff analyzes credits inside the high yield credit universe as well as 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:
$200 million
Portfolio Leadership Team:

Timothy L. Rabe, CFA
Brian D. Funk, CFAVIEW FULL TEAM
Benchmark:
ICE BofAML U.S. High Yield BB-B Constrained Index
Inception Date:
October 1, 2000
Download Fact Sheet
Available Vehicles:

Separately Managed Accounts

  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.