MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, October 16, 2024 A $33B-AUM AM's $5.5B-AUM FI Team Adds a 5th Strat The folks at a $33.2-billion-AUMA (as of September 30, 2024), publicly traded fund firm in the Midwest are adding a fifth strategy to their $5.5-billion-AUM fixed inncome team's suite of offerings.
The new, actively managed bond fund's inception date was yesterday (Tuesday, October 15). It comes in three flavors: investor shares (DHNAX), with an expense ratio of 86 basis points; I shares (DHNIX), with an expense ratio of 57bps; and Y shares (DHNYX), with an expense ratio of 45bps. The minimum initial investment for Y shares is $500,000, while the minimum initial investment for the other two share classes is $2,500. The Diamond Hill Core Plus Bond Fund's PM team includes three Diamond Hill portfolio managers: Arthur Cheng, Mark Jackson, and Henry Song. (All three PMs also work on the separate account version of the strategy.) The fund launch comes about three months after Cheng joined Diamond Hill. Brilliant puts the launch in the context of the fund firm's "continued commitment to providing investors with solutions matching their needs with our capabilities." "This strategy will further enhance our line-up of differentiated fixed income offerings." Brilliant states. Song notes the Diamond Hill fixed income team's longtime "unique focus on securitized assets." "We are pleased that adding expertise in below-investment-grade investing has enabled the launch of this strategy, expanding our ability to deliver great outcomes for a broader array of clients," Song states. Cheng describes the new fund as "a natural evolution for this team and its long-term, valuation-disciplined, bottom-up approach to credit investing." "In expanding Diamond Hill's fixed income offerings, we look forward to the opportunity to deepen client partnerships," Cheng states. The Diamond Hill Core Plus Bond Fund is a series of Diamond Hill Funds. The new fund's other service providers include: Cohen & Company, Ltd. as independent accounting firm; ACA's Foreside Financial Services, LLC as distributor; State Street Bank and Trust Company as custodian and securities lending agent; Thompson Hine LLP as counsel; and Ultimus Fund Solutions, LLC as sub-accounting agent and sub-transfer agent. Printed from: MFWire.com/story.asp?s=68045 Copyright 2024, InvestmentWires, Inc. All Rights Reserved |
