Toronto-based Dynamic Funds announced the launch of the Dynamic Credit Absolute Return II Fund, its fourth liquid alternative offering, on Monday.

The new fund seeks to maximize absolute returns over a complete market cycle by investing in long and short positions of North American credit securities, Dynamic said in a release. The fund aims to mitigate interest rate risk while maintaining a weighted average investment grade credit rating.

Marc-André Gaudreau, head of Dynamic’s specialized credit team, will manage the fund. Gaudreau has more than 20 years of industry experience, and currently manages a similar investment strategy that  launched in January 2014.