(June 29 – 09:25 ET) – Triax Yield Trust Management Inc. is dumping Altamira Management Ltd. as its investment manager in favour of Deans Knight Capital Management Ltd.
Deans Knight, the team of Wayne Deans and Doug Knight, has a team of six analysts and portfolio managers who currently run approximately $550 million of high yield bond assets for institutional and individual clients. Knight will be the principal investment strategist and portfolio manager for the Trust.
The Deans Knight high-yield management team doesn’t try to time markets, instead it focuses on the issuers of the bonds themselves and whether they have strong cash flows, solid balance sheets and the ability to offer a high coupon over a business cycle. Triax says it believes that unitholders of the Trust will benefit from the team’s exclusive focus on high yield bonds and its long-term approach to investing.
Triax Yield Trust Management Inc. is an indirectly wholly owned subsidiary of First International Asset Management Inc., which now has about $19 billion of assets under management. It also owns 33% of Deans Knight.
-IE Staff