Institutional investment manager DDJ Capital Management has a been selected by Danske Invest, the Danish fund complex, to sub-advise on two unit trust funds investing in high yield bonds.
Danske Invest, the fund management business owned by Danske Bank Group, one of the largest financial enterprises in the Nordic Region, appointed DDJ as its dedicated sub-adviser with respect to two Danske Invest Select High Yield Bond Funds, launched in June and October.
The two funds, with combined assets currently in excess of USD750m, invest in DDJ's US Core High Yield strategy.
DDJ's US Core High Yield portfolios, led by portfolio manager Joseph Lind, seek to outperform the BB/B rated segment of the high yield bond market. The strategy employs the firm's value-oriented, fundamental investment philosophy, which takes advantage of DDJ's extensive experience investing throughout the lower tiers of the credit markets.
"We are delighted that Danske Invest has chosen DDJ as its sub-adviser for these two funds," says David Breazzano, president and chief investment officer of DDJ Capital. "DDJ's deep-value, bottom-up approach to investing in the US high yield market is resonating with investors domestically as well as abroad."
"Danske prides itself on thorough due diligence in choosing our investment managers, and we are pleased to have added DDJ to our expert stable of external managers," says Robert Mikkelstrup, head of fund products at Danske Invest.