O’Leary Funds unveils new fund

Montreal-based O’Leary Funds Management LP has launched O’Leary Floating Rate Income Fund, which seeks to provide income by investing in a diversified portfolio made up primarily of senior floating-rate loans, floating-rate notes and short-duration corporate bonds of investment-grade and non-investment-grade Canadian and global issuers. The fund’s portfolio-management team is headed by Connor O’Brien, chief investment officer with Montreal-based Stanton Asset Management Inc. and CEO of O’Leary Funds. Also on the team is Adam Smalley, senior portfolio manager, fixed-income. Smalley has more than 14 years of experience in focusing on high-yield bonds and floating-rate securities portfolios in a wide range of market conditions, including periods of increasing interest rates and widening credit spreads. The new fund is designed for the current environment, says O’Brien, as this type of strategy has a history of generating stable income and diversification with limited interest rate risk. Stanton uses top-down analysis to evaluate and determine the most attractive sectors and types of securities, combined with fundamental credit analysis and relative value analysis to identify and select attractive investments. Advisor commissions are 0%-5% for front-end sales and 2% for the low-load option. Redemption fees begin at 2% in the first 18 months and end at zero after Year 3 for the low-load schedule. Trailing commissions are 0.7% for front end sales; 0% for the first year of the low-load option, 0.35% for Year 2 and Year 3, and 0.7% thereafter. Management fees are 1.45% for A-class units and 0.75% for F-class units. The minimum investment is $1,000.

(cohara@investmentexecutive.com).