We are looking forward to Peter's taking over the reins as Portfolio Manager and assuming leadership of our High Yield Bond
Fund team," said Pax World President and CEO Joe Keefe.
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The deal also involved the receipt of consents to the refinancing transaction under the company s senior credit facilities and WAF s outstanding high yield bonds
and the simultaneous tender offer to holders of WAF s and the issuer-subsidiary of WIND's parent s high yield bonds
that were being refinanced.
When combined with other income asset classes in a diversified portfolio, an allocation to high yield bonds
may temper principal fluctuation and potentially enhance returns over the long term.
Including all fees that have been paid for financings over the past 4 months alone, we estimate that the Company will have disbursed approximately US$16 million in fees if the Proposed High Yield Bond
Our aim, one we have realized in roughly similar market environments, is to exit near the top of intermediate term high yield bond
market prices and re-enter this market at what we perceive to be intermediate price trend lows.
In addition, since a large amount of new high yield bond
issuance is being used to retire secured loans, there has been a significant increase in secured note issuance to date in 2009.
The Fund has also received a 5-star and 4-star Overall Morningstar Rating[TM] for institutional and individual investor class shares, respectively, for the period ended June 30, 2008 out of 476 high yield bond
funds based on risk-adjusted returns.
Jerry Wagner, President and Founder of Flexible Plan Investments, explained: "A strategically timed portfolio of high yield bond
mutual funds can provide an excellent source of risk-adjusted returns for long-term growth of investment portfolios.
To accomplish this, the High Yield Bond
Fund portfolio management team invests in the high-quality segment of the high yield market.
Often the individual investor's only alternative is a high yield bond
fund often with a high commission and management fees.
BOSTON -- Evergreen Investments announced today that Gary Pzegeo, CFA, has been named Managing Director and interim head of Evergreen's High Yield Bond
team, effective immediately.