BMO Investments Kicks Off High Yield Fund
June 24, 2008
BMO Investments yesterday launched the BMO U.S. High Yield Bond Fund. The new fund will invest primarily in securities with a credit rating below BBB and use bottom up quantitative and fundamental analysis, according to the firm.
"Investing in U.S. high yield bonds provides investors with enhanced return potential and improved diversification given the bonds' historically lower correlation to other sectors of the fixed income market," BMO President and COO Linda Knight said in a release.
The new fund will be managed by HIM Monegy, a part of Chicago-based Harris Investment Management that operates within the BMO Financial Group. HIM Monegy is dedicated to managing high yield bonds, loans and credit default swaps and, as of Dec. 31, 2007, managed roughly $1.4 billion in assets.
The new high yield fund is available in both Series A units for retail investors and Series I units for institutional investors.
For more information on related topics, visit the following:
