Montreal-based O’Leary Funds Management LP launched a new Floating Rate Income mutual fund on Tuesday.
The Floating Rate Income fund offers investors income through investments in a diversified portfolio of senior floating rate loans, floating rate notes and short duration corporate bonds of investment and non-investment grade Canadian and global issuers.
Connor O’Brien, chief investment officer, Staton Asset Management, will lead the fund’s portfolio investment team. Adam Smalley, senior portfolio manager, fixed income, Stanton, is also a team member.
The fund is available in hedged and unhedged Series A and F as well as in a hedged Series H. Income distributions will be made monthly to unitholders through a target fixed distribution rate.