MassMutual High Income fund to launch with Babson Capital as adviser

By Jennifer Chiou

New York, Aug. 19 - Newly formed MassMutual High Income Investors Fund said it will invest at least 80% of its assets in junk-rated debt securities to meet its high current income primary investment objective, according to an N-2 filing with the Securities and Exchange Commission.

Its secondary investment objective is capital growth, when consistent with high current income, the filing said.

The Springfield, Mass., company is a planned new closed-end management investment company.

The securities must be rated below investment grade by one agency or the fund's investment adviser Babson Capital Management LLC must judge the investment to be comparable to a junk-rated security.

Babson Capital Management is a wholly owned asset management subsidiary of Massachusetts Mutual Life Insurance Co.

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