Danske Invest, the fund management business owned by Danske Bank Group, has selected DDJ Capital Management, a US-based institutional investment manager, to sub-advise on its two unit trust funds investing in high yield bonds.
The bonds, which include two Danske Invest Select High Yield Bond Funds with combined assets currently in excess of US$750 million, will invest in DDJ’s US Core High Yield strategy.
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The two funds were launched by the firm in June and October, respectively.
The move follows the Danske’s value-oriented, fundamental investment strategy, which takes benefit of DDJ’s investment experience across the lower tiers of the credit markets.
David Breazzano, president and chief investment officer of DDJ Capital said: "DDJ’s deep-value, bottom-up approach to investing in the U.S. high yield market is resonating with investors domestically as well as abroad."
Robert Mikkelstrup, head of fund products at Danske Invest, said: "Danske prides itself on thorough due diligence in choosing our investment managers and we are pleased to have added DDJ to our expert stable of external managers."
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