Strategies

High Yield

Summary

Strategy Description

The High Yield strategy seeks to invest in undervalued debt securities of companies with attractive cash flow, strong asset coverage and financial flexibility to de-lever over time. We combine our research team’s expertise in small/mid-caps and fallen angels with a bias toward senior securities as we seek to maximize risk-adjusted returns.

Strategy Facts

As of 12/31/2020
Asset ClassHigh Yield
VehiclesSeparate Account | Commingled | Mutual Fund
Style BenchmarkICE BofA BB-B US High Yield Constrained
Strategy Assets (millions)$2,409
Number of Active IssuersTarget 100-125
StatusOpen

Portfolio Managers

Ray Kennedy, CFA
12 Years with H&W 35 Years of Industry Experience
Mark Hudoff
11 Years with H&W 34 Years of Industry Experience
Patrick Meegan, CPA
22 Years with H&W 30 Years of Industry Experience
Richard Mak, CFA
7 Years with H&W 20 Years of Industry Experience

Index definitions

Glossary of financial terms

More Insights

November 2020 Portfolio Manager Ray Kennedy Featured in Graham and Doddsville Columbia Business School students conducted an insightful interview on September 23rd with Ray Kennedy that covers a wide range of topics. Go to Interview October 2020 Q3 2020 High Yield Market Update Go to Podcast October 2020 High Yield Market Update – Fed Up? Hotchkis & Wiley provides an update on Federal Reserve involvement in credit markets and where we are finding opportunity. Go to Newsletter