Seix Investment Advisors
has won a mandate to subadvise the Hyperion Total Return Fund
. Seix replaced Pacholder Associates
as sub-advisor to the New York City-based, closed-end fund last Saturday (February 15). The mandate covers the fund's portfolio investing in high yield and junk bonds.
Hyperion did not state the reason for its change in sub-advisors in the release announcing the change.
The hiring is under an interim agreement. The fund's shareholders will vote on a permanent subadvisory contract at the fund's annual meeting set for April 15, 2003.
Employee-owned Seix manages roughly $12.2 billion of fixed income assets. Christina Seix, chairman & chief investment officer, and Michael McEachern, head of High Yield Group & senior portfolio manager, will serve as portfolio managers of the Fund's High Yield Portfolio.
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