Polen Upper Tier U.S. High Yield
Investment Objective
Our U.S. Upper Tier High Yield strategy seeks to achieve overall total return consisting of a high level of current income together with long-term capital appreciation.
Why Invest in Polen Upper Tier U.S. High Yield?
- U.S. high yield strategy with a strong emphasis on due diligence and margin of safety
- Concentrated, high-conviction portfolio
- Private equity style investment approach with a focus on loan-to-value, including ESG considerations
- Long holding periods that aim to deliver a compounding yield advantage
A High Conviction Approach
We strive to generate attractive risk-adjusted returns by employing a disciplined, bottom-up, fundamentally-oriented investment process with a strict adherence to downside protection. Through rigorous due diligence with a strong emphasis on margin of safety, we believe that we can construct concentrated portfolios that can outperform broad high yield indices over a full credit cycle.
Product Profile
| Number of Issuers | 80-110 |
|---|---|
| Style | High Yield |
| Benchmark | ICE BofA BB/B U.S. Non-Financial High Yield Constrained Index |
Experience in High Yield Investing
Related Perspectives
Podcast: Money Tree Investing Digs into High Yield Markets
Dave Breazzano talks why the perceived risk of credit default is higher when investing in high yield bonds & loans, but the reward can be too
Asset TV Masterclass: Why High Yield, Right Now
Watch Dave Breazzano talk credit markets & unlocking the most compelling yield opportunities seen in years
Polen Capital Credit, LLC, a wholly-owned subsidiary of Polen Capital Management, LLC, is an investment adviser registered with the SEC. Please find Polen Capital Credit, LLC ‘s Form ADV linked here.
The ICE BofA BB/B U.S. Non-Financial High Yield Constrained Index contains all securities in the ICE BofA U.S. High Yield Index rated BB1 through B3, based on an average of Moody’s, S&P and Fitch, but caps issuer exposure at 2% and excludes Financials. Index constituents are capitalization-weighted, based on their current amount outstanding, provided that the total allocation to an individual issuer does not exceed 2%. The ICE BofA U.S. High Yield Index is a broad unmanaged high yield index. The volatility and other material characteristics of the indices referenced may be materially different from the performance achieved. Holdings of portfolios pursuing the strategy may be materially different from those within the index. Indices are unmanaged.
ESG refers to Environmental, Social, and Governance criteria. The Focus Growth strategy integrates material environmental, social, and governance (ESG) factors into research analysis as part of a comprehensive evaluation of a company’s long-term financial sustainability. There is a risk that the investment techniques and risk analyses applied, including but not limited to the integration of ESG factors into the research analysis, will not produce the desired results and that legislative, regulatory, or tax developments may affect the investment techniques available. There is no guarantee that the investment objective will be achieved.