DDJ Canadian High Yield fund goes global

New York, Oct. 11 - DDJ Canadian High Yield Fund is to start buying high-yield bonds on a global basis after unitholders approved changes to the investment strategy.

The fund's manager, CI Investments Inc., said the fund also changed its name to DDJ High Yield Fund to reflect the change.

Previously, the portfolio was made up of junk bonds issued in the United States by Canadian corporations. It was also restricted from holding more than 20% of the fund in foreign property on a cost basis.

The change of strategy was made because of the elimination of the foreign property rule for registered plans and because it provides increased investment flexibility and a broader selection of debt securities.

Unitholders also approved extending the fund's term to Aug. 15, 2017 from Aug. 15, 2007.

DDJ Capital Management, LLC, a Wellesley, Mass., specialist in distressed, high yield and special situation investing, provides investment advisory and portfolio management services to the fund.

© 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.