MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, September 16, 2011 American Beacon Penns a New Sub-Advisory Deal American Beacon [see profile] just added a third sub-advisor to a three-star fixed income mutual fund. Today Penn Capital Management Company joined the sub-advisory team for the $117.6-million American Beacon High Yield Bond Fund, alongside fellow sub-advisors Logan Circle Partners and Franklin Templeton sibling Franklin Advisers [see filing]. Penn chief investment officer Rich Hocker and PM Martin Smith will join the fund's PM team, and it appears that the fees for the fund will rise by a few basis points (for instance, by three bps to 82 bps all-in for institutional shares). MFWire.com could not immediately reach Hocker or American Beacon chief Gene Needles for comment on the move. Employee-owned and based in Philadelphia, Penn offers US equity, US fixed income, and alternative strategies. Printed from: MFWire.com/story.asp?s=37827 Copyright 2011, InvestmentWires, Inc. All Rights Reserved |