Pyxis Floating Rate Opportunities Fund taps Okada as primary manager

By Toni Weeks

San Diego, Sept. 25 - Pyxis Funds I announced in a 497 filing with the Securities and Exchange Commission that Mark Okada will be the primary portfolio manager of the Pyxis Floating Rate Opportunities Fund, effective in October.

Okada replaces Greg Stuecheli, the former primary portfolio manager.

Okada co-founded Highland Capital Management, LP, where he been chief investment officer since 1993. A pioneer in the development of the bank loan market, he has over 25 years of credit experience.

The fund seeks a high level of current income, consistent with preservation of capital. It invests, directly and indirectly through derivatives, at least 80% of its net assets in floating-rate loans and similar securities.

Dallas-based Pyxis Capital, LP serves as the investment adviser for the fund.

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