TORONTO, ONTARIO -- (Marketwired) -- 06/14/13 -- BMO Global Asset Management today announced that the BMO U.S. High Yield Bond Fund has surpassed $1 billion in assets under management. The fund has more than doubled in size since the beginning of 2013.
The fund - managed by Monegy, Inc. (Monegy), a boutique high yield portfolio manager within BMO Global Asset Management - seeks to provide investors with a high level of total return and below-market volatility. The fund invests in a highly diversified portfolio of primarily U.S. corporate fixed income securities rated below investment grade.
"BMO U.S. High Yield Bond Fund's success demonstrates Monegy's expertise in managing high yield credit portfolios," said Rajiv Silgardo, Co-CEO, BMO Global Asset Management. "Monegy has an impressive track record over multiple credit cycles. Their unique and disciplined style, and commitment to client service, has garnered them a loyal international client base. We are pleased to have the fund as part of the overall BMO Mutual Funds family."
Monegy follows a highly disciplined investment process combining quantitative metrics with fundamental credit analysis - enabling them to identify mispriced securities and optimize the fund's risk/return profile.
"For yield-seeking investors looking to capitalize on a recovering U.S. economy, but with a limited appetite for volatility, BMO U.S. High Yield Bond Fund is an ideal solution. We invest in the higher quality end of high yield, balancing risk and return with a focus on capital preservation on the downside," said Monegy President Sadhana Valia, a twenty-eight-year veteran in credit markets. "High yield spreads remain relatively attractive and the asset class is less sensitive to rising interest rates than other fixed income alternatives. We are seeing steady inflows from high net worth and retail clients, as well as institutional investors."
Monegy has been managing institutional high yield bond and loan portfolios for 15 years and has a dedicated and experienced team of investment professionals devoted exclusively to high yield. Sadhana Valia and Lori Marchildon are co-managers for the fund.
For more on BMO Global Asset Management, please visit: http://www.bmo.com/globalassetmanagement.
For more information about BMO U.S. High Yield Bond Fund and Monegy, please visit: http://www.monegy.com.
Get the latest BMO press releases via Twitter by following @BMOmedia.
Established in 1997, Monegy is a wholly owned subsidiary of Chicago-based BMO Asset Management Corp, and is part of BMO Global Asset Management. Monegy currently manages over US$2.7 billion in assets, including the BMO U.S. High Yield Bond Fund and the BMO Floating Rated Income Fund. Monegy offers a full suite of investment vehicles with an active presence across high yield bonds and bank loans, for both institutional and retail investors.
About BMO Global Asset Management
BMO Global Asset Management is a global investment manager with more than $130 billion CAD in assets under management as of April 30, 2013, including discretionary and non-discretionary assets under management.
BMO Global Asset Management is a part of BMO Financial Group (TSX: BMO)(NYSE: BMO), a fully diversified financial services organization with $555 billion total assets and more than 46,000 employees as April 30, 2013.
BMO Mutual Funds are offered by BMO Investments Funds Inc., a financial services firm and separate legal entity from Bank of Montreal.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual Funds are not guaranteed, their values change frequently and past performance may not be repeated.
Amanda Robinson, Toronto
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