Wednesday, 20 August 2014
Last updated 1 hour ago
Jul 24 2012 | 9:35am ET
Phoenix Investment Adviser has secured a $40 million seed investment for its JLP Institutional Credit Fund from a large European institution.
The fund launched on Jan. 1, 2011 with $3.5 million of employee capital, and the additional investment brings the fund's total assets to approximately $55 million.
According to the firm, “This investment highlights institutional interest in fixed income strategies that will allow them to earn yield in this environment, without exposure to the volatility characteristic to high-yield funds.”
Phoenix, which now has more than $500 million is assets under management, is best known for its flagship JLP Credit Opportunity Fund, which has a nine-year track record investing in deeply discounted, stressed bonds that it believes will avoid bankruptcy. The JLP Institutional Credit Fund follows the same deep value, fundamental process, but is focused on senior secured, higher quality bonds of the same or similar companies in the flagship vehicle. The Institutional Credit Fund also has a substantial short book and market hedges that aims to limit downside and volatility.
The new vehicle is designed for pension managers, endowments, fund of funds, and other institutions seeking access to superior high yield corporate credit returns without the volatility often associated with the asset class.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note