The Fund seeks to achieve its investment objective by predominately investing in the global universe of baby bonds, subordinated debt securities, junior subordinated debt securities, preferred securities and contingent convertible capital bonds. Such securities are typically issued by banks, insurance companies, brokerage companies as well as other corporate issuers including telecom, utility and industrial companies. Spectrum places significant emphasis on top down/bottom-up credit analysis. The Fund seeks to maintain a portfolio with an overall intermediate duration (i.e. 3 – 10 years) and a weighted average rating of at least BBB-/Baa3 or higher.
The Fund utilizes moderate leverage as well as Long/Short Overlays; seeking to enhance yield, generate alpha and mitigate short term volatility.
Chief Investment Officer and Senior Portfolio Manager
Mr. Jacoby joined Spectrum in 1995 as a Portfolio Manage... See all
Mr. Jacoby joined Spectrum in 1995 as a Portfolio Manager and most recently held the position of Managing Director and Senior Portfolio Manager until he was appointed as CIO on January 1, 2010. Prior to joining Spectrum, Mr. Jacoby was a Senior Investment Officer at USL Capital Corporation (a subsidiary of Ford Motor Corporation) and co-manager of the preferred stock portfolio of its US Corporate Financing Division for six years. Mr. Jacoby began his career in 1981 with The Northern Trust Company, Chicago and then moved to Los Angeles to join E.F. Hutton & Co. as a Vice President and Institutional Salesman, within Generalist Fixed Income Sales he held this position through most of the 1980s. Mr. Jacoby holds a BSBA (Finance) from the Boston University Questrom School of Business.
Managing Director and Portfolio Manager
Prior to joining Spectrum in 2004, Mr. Krishnan was an O... See all
Prior to joining Spectrum in 2004, Mr. Krishnan was an Operational Analyst with the Strategy and Analysis group at Capital One Financial Corporation, Manu also worked as a software development engineer with the MathWorks, Inc. for three years developing algorithms for control and embedded systems. Mr. Krishnan is a CFA Charterholder and holds a MBA (Finance) from Cornell University, a MS (Mechanical Engineering) from the University of Delaware and a BS (Mechanical Engineering) from the College of Engineering, Osmania University, India.
Spectrum places emphasis on top down/bottom-up credit analysis; seeking to maintain a portfolio with an overall intermediate duration (i.e. 3 – 10 years) and Investment Grade weighted average credit rating. Portfolio construction is driven by relative value; giving close attention to securities structure, issuer diversification and liquidity.
Moderate leverage (up to approximately 30%) is typically employed to achieve enhanced yield. The level of leverage incrementally decreases as the Libor Rate increase or as the current yield spread narrows.
The Long/Short Overlays target both rate and credit sensitivities; seeking to incrementally: i) enhance total returns, ii) mitigate volatility and iii) increase the Sharpe ratio.
There are four Overlays that are based upon proprietary algorithms that generate short term buy/sell points of entry and exit that are driven by quantitative inputs. The position size of each overlays is relatively small and short term; subject to upside targets and downside guideline limits.
Waystone Investment Management (IE) Limited, 23 St. Stephen's Green, Dublin 2, D02 AR55, Ireland is licensed to provide Investment Management services to Professional Clients (including Collective Investment Schemes) by the Central Bank of Ireland.
MontLake UCITS Platform ICAV is an umbrella open-ended Irish collective asset-management vehicle with segregated liability between Funds formed in Ireland under the Irish Collective Asset-management Vehicles Act 2015 and authorised by the Central Bank as a UCITS pursuant to the UCITS Regulations.
The Manager of MontLake UCITS Platform ICAV is Waystone Fund Management (IE) Limited, a company regulated by the Central Bank of Ireland.
This website is directed mainly for professional and institutional clients who possess the necessary experience, knowledge and expertise to make their own investment decisions and properly assess the risk that it incurs.
Information on this website was obtained from various sources and the company does not guarantee its accuracy. The information is for your private use and discussion purposes only and expressed views and opinions may change.
The Performance figures quoted refer to the past and past performance is not a guarantee of future performance or a reliable guide to future performance. The value of your investment and their income may go down as well as up.
Your investment may also be subject to currency, interest rate, as well as market fluctuations. Consequently the Investor may not get back a sum equal to that he / she originally invested.
Investors should note that an investment in those Sub-Funds which may invest in emerging markets should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.
The Sub-Funds may invest in Over the Counter as well as Exchange Traded derivative instruments to enhance return or hedge against fluctuations in security prices or market rates as well as to short sell a security through the use of a derivative instrument. Transactions in derivative instruments involve a risk of loss or depreciation of capital due to adverse changes in security prices, exchange rates or interest rates or in the case of OTC instruments default of Counterparty. This investment may not be suitable for all types of investors. It is therefore recommended that you consult your investment advisor.
A commission or sales fee may be charged at the time of the initial purchase for an investment and may be deducted from the invested amount therefore lowering the size of your investment. The Investment Manager will be entitled to receive a performance fee as well as a management fee, calculated on a daily basis and paid quarterly by the sub-funds.
The Levels and bases of taxation are dependent on individual circumstances and subject to change and therefore it is highly recommended that you consult a professional tax advisor.