DENVER--(BUSINESS WIRE)--ALPS, a DST Company focused on asset servicing and asset gathering, today announced the launch of the ALPS | Westport Resources Hedged High Income Fund, an open-end mutual fund designed to protect principal while producing high current income.
ALPS has joined with Westport Resources on the new offering, whose Portfolio Managers include Trust Advisory Partners, one of the first advisory firms to construct and manage multi-manager alternative asset portfolios.
The ALPS | Westport Resources Hedged High Income Fund’s primary objective is to provide high current income, with a secondary goal of capital preservation with the potential for appreciation.
The Fund’s hedged high income approach will encompass three sub-strategies:
- A Senior Loan Floating Rate Strategy that will concentrate on liquid investment opportunities in senior-secured and second-lien loans and bonds.
- A Short Duration High Yield Strategy that will seek to generate uncorrelated returns through stable income and reduced volatility. The portfolio managers seek to identify short-maturity high yield bonds in smaller, less followed companies.
- A Relative Value Long/Short Debt Strategy seeks to take advantage of perceived discrepancies in the market prices of certain fixed income securities, as well as certain convertible bond, common stock, and derivative securities.
“The ALPS | Westport Resources Hedged High Income Fund includes a number of ways to manage fixed income securities in a low interest rate environment,” says Tom Carter, President of ALPS Advisors. “More than that, investors will have the potential benefit of a proven portfolio manager at the helm to execute on the fund’s strategies.”
Westport’s Trust Advisory Partners has a history of helping investors achieve greater diversification and effective risk management by investing in hedge fund strategies. The firm designs funds for investors seeking innovative options for high current income and long term principal protection.
“By employing complementary strategies and styles, we believe we’ve built a solution that can generate good income that’s hedged to manage risk,” says Michael Portnoy, Portfolio Manager, Westport Resources Management.
The ALPS | Westport Resources Hedged High Income Fund will be available in three classes—A Shares (INCAX), C Shares (INCCX), and I Shares (INCIX). Additional information can be found at www.alpsfunds.com.
ALPS provides customized asset servicing and asset gathering solutions to the financial services community through an entrepreneurial culture based on the commitment to “Do Things Right.” Founded in 1985, ALPS continues to actively promote all of its various business segments, from asset servicing through ALPS Fund Services, Inc. to asset gathering through ALPS Distributors, Inc. and ALPS Advisors, Inc. Headquartered in Denver, with offices in Boston, New York, Seattle, and Toronto, ALPS, a wholly-owned subsidiary of DST Systems, Inc., today represents more than 400 employees, over 200 clients, and an executive team that has been in place for more than 18 years. For more information about ALPS and its services, visit www.alpsinc.com. Information about ALPS products is available at www.alpsfunds.com.
About Westport Resources
Westport Resources is an independent investment and financial planning firm headquartered in Westport, Conn. Founded in 1986 by current CEO John Adams Vaccaro, CFP®, CLU, the firm’s wealth management arm, Westport Resources Management, Inc., specializes in managing assets for a select Private Client Group of individuals, families, municipalities and not-for-profit organizations. Westport Resources Investment Services, Inc., the firm’s broker/dealer, offers a vast and comprehensive array of brokerage services, including buying and selling equities, bonds, mutual funds, and exchange-traded funds to planning and executing options and hedging strategies. For more information, visit www.westportresources.com.
All investments involve risks, including possible loss of principal. The risks associated with higher-yielding, lower-rated securities include higher risk of default and loss of principal. Changes in the financial strength of a bond issuer or in a bond’s credit rating may affect its value. In addition, interest rate movements will affect the fund’s share price and yield. Credit risk refers to the possibility the bond issuer will not be able to make principal and interest payments. Bond prices generally move in the opposite direction of interest rates. Thus, as the prices of bonds in the fund adjust to a rise in interest rates, the fund’s share price may decline. These and other risk considerations are discussed in the fund’s prospectus. The principal on mortgage or asset-backed securities normally may be prepaid at any time, which will reduce the yield and market value of those securities. US obligations are supported by varying degrees of credit but generally are not backed by the full faith and credit of the US government. Investments in non-investment-grade debt securities (“high yield” or “junk” bonds) may be subject to greater market fluctuations and risk of default or loss of income and principal than securities in higher rating categories.
The ALPS | Westport Resources Hedged High Income Fund is a new product with a limited operating history.
Senior-secured and second lien loans and bonds: Assets pledged as security for these loans and bonds would first be made available to Senior lenders before other investors’ demands were met when settling a bankruptcy.
The Fund is not required to invest with any minimum number of sub-advisers and does not have minimum or maximum limitations with respect to the allocations of the assets to any sub-adviser or investment option.
An investor should consider the investment objectives, risks, charges and expenses carefully before investing. To obtain a prospectus which contain this and other information, call 866.759.5679 or visit alpsfunds.com. Read the prospectus carefully before investing.
ALPS Portfolio Solutions Distributor, Inc. is the distributor for the ALPS | Westport Resources Hedged High Income Fund.
Tom Carter is a Registered Representative of ALPS Distributors, Inc. and ALPS Portfolio Solutions Distributor, Inc.
Jennifer Levesque is a Registered Representative of ALPS Distributors, Inc.