Wells Fargo launches high yield fund

New York, Dec. 11 - Wells Fargo Funds Management, LLC said it launched a high-yield bond fund.

Called the Wells Fargo High Yield Bond Fund, it will invest in quality companies with strong cash flows in sectors that are well understood by the management team at Sutter Advisors LLC, sub-adviser to the fund.

"Our bottom-up approach in analyzing the companies and industries we invest in requires us to be highly selective in our credit assessments," said Roger Wittlin, managing director at Sutter Advisors, in a news release. "We look for companies that demonstrate strong cash flow, ample liquidity, stable margins, solid asset base, and have a quality management team at the helm. In addition to surpassing these criteria, companies must be able to pass the recession stress tests we simulate in proprietary cash-flow projection models."

The fund will focus on long-term credit performance and total return, seeking to invest in industry sectors with consistent profit margins, attractive returns on capital, stable or improving supply-demand fundamentals, and solid asset coverage.

It will be managed by two senior portfolio managers, 17 credit analysts and three traders.

Wells Fargo Funds Management is a subsidiary of Wells Fargo & Co. Sutter Advisors LLC is a subsidiary of Wells Capital Management, a wholly owned subsidiary of Wells Fargo Bank.

© 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.