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ALPS plans to launch DDJ Opportunistic High Yield Fund in July
By Toni Weeks
San Luis Obispo, Calif., July 15 – ALPS Series Trust plans to offer a new high-yield, fixed-income fund, the DDJ Opportunistic High Yield Fund, according to an N-1A filing with the Securities and Exchange Commission. The fund is expected to launch this month.
The fund will seek overall total return consisting of a high level of current income together with long-term capital appreciation and to outperform the broader high-yield market over a complete credit cycle. The fund seeks to achieve its objective mainly by investing in high-yield, fixed-income securities with a focus on middle-market issuers in the United States and, to a lesser extent, Canada.
Under normal circumstances, the fund will invest at least 80% of the value of its assets in high-yield, fixed-income securities. The adviser intends to manage a relative concentrated portfolio typically comprising between 60 to 80 issuers and 80 to 100 issues.
Anthony Ranaldi is the lead portfolio manager, with Joseph Lind also serving as a portfolio manager.
The fund will offer class I, class II and institutional class shares. The ticker symbols are DDJCX, DDJRX and DDJIX, respectively.
Shareholder fees include only a redemption fee of 1% on any amounts redeemed within 60 days of purchase. Including management fees of 0.7%, and taking into account a fee waiver and expenses reimbursement agreement with the investment adviser, total annual fund operating expenses are expected to be 0.89% for class I, 1.14% for class II and 0.79% for institutional class shares.
Waltham, Mass.-based DDJ Capital Management, LLC is the investment adviser.
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