New Delaware Fund Includes Loans/HY
March 1, 2010
Delaware Investments has launched a fixed income mutual fund that holds a variety of assets, including bank loans and high yield bonds, the Philadelphia-based firm said today. The fund is available to both individual and institutional investors.
The Delaware Diversified Floating Rate Fund, which seeks to provide total return, invests roughly 80% of its net assets in floating-rate securities under normal circumstances. Its investments include bank loans, high yield bonds, investment-grade bonds, mortgage-backed securities, asset-backed securities, U.S. government guaranteed securities, municipal bonds and sovereign debt.
The fund is managed by Kevin Loome, who heads Delaware’s high yield group; Roger Early and Paul Grillo, who are co-chief investment officers of the total return strategy group; and J. David Hillmeyer, who focuses on corporates and bank loans.
Delaware Investments is a member of the Macquarie Group and has more than $130 billion in assets under management.
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