Managers Global Bond Fund to change names, investment strategy

By Toni Weeks

San Diego, Dec. 13 - The board of trustees of the Managers Global Fund approved on Dec. 1-2 changes to the fund's name and investment strategies.

According to a 497 filing with the Securities and Exchange Commission, the fund's new name will be Managers Global Income Opportunity Fund as of Feb. 1.

Also effective Feb. 1, the fund may invest up to 30% of its total assets in below-investment-grade bonds, those rated Ba1/BB+ or lower by Moody's or S&P. Previously, there was no provision in the fund's prospectus for investing in junk bonds.

The fund also specified that it will now invest no more than 20% of its net assets, plus the amount of any borrowings for investment purposes, in debt securities of companies located in emerging market countries.

In addition, at least 20% of the total assets of the fund will be invested in dollar-denominated instruments.

The fund's investment manager is Chicago-based Managers Investment Group LLC.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.