The BMO U.S. High Yield Bond Fund has surpassed $1 billion in assets under management, Toronto-based BMO Global Asset Management (BMO GAM) announced on Friday. Since the start of the year, the fund has more than doubled in size.

Managed by Monegy, Inc. the fund’s goal is to provide investors with a high level of total return and below-market volatility. The fund primarily invests in U.S. corporate fixed income securities rated below investment grade.

Monegy is a wholly owned subsidiary of Chicago-based BMO Asset Management Corp. and part of BMO GAM. Currently, Monegy manages roughly $2.7 billion in assets. BMO GAM has more than $130 billion in assets under management.