A news release said the fund is managed by an investment team led by K.C. Nelson, portfolio manager and Mirsada Durakovic, assistant portfolio manager. Driehaus is targeting institutional and high net worth investors looking for an absolute return alternative to core and core plus strategies.
According to the announcement, assets in the fund exceed $800 million, making it one of the largest in the absolute return category. The fund is broadly diversified and seeks to provide current income and capital appreciation by investing primarily in U.S. fixed income and floating rate securities, of both investment and non-investment grade credit quality, and by engaging in a variety of short-term trading strategies.
According to Nelson, the fund pursues relative value and outright long and short investment opportunities across a variety of credit instruments and seeks to provide superior returns to a long only core bond allocation, with equal or less volatility.
“The credit markets currently offer some extraordinary investment options,” he said, in the news release. “However, this ‘cheapness’ exists in only certain segments of the market, and these segments are constantly changing. A static, long-only core approach with no hedging mechanism can fail to take advantage of these changes.”
More information is at www.driehaus.com .
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