North Square Investments launches new multi-sector bond fund
North Square Investments, a multi-boutique manager with a range of product offerings, has launched its first fixed income mutual fund, the North Square Strategic Income Fund (ADVNX).
This is North Square’s second mutual fund launch this year and reflects increasing investor demand from private wealth and retail channels for diversified investment portfolios providing higher current income. This multisector bond fund is being sub-advised by the specialty income investment boutique, Red Cedar Investment Management (Red Cedar).
“Red Cedar has a long-term history of managing strategic income and multi-sector bond strategies for both institutional and retail clients,” says Mark Goodwin, Co-Founder and CEO of North Square. “We have followed the portfolio management team at Red Cedar closely over the years and recognize their expertise and experience in managing creative income-oriented strategies. The launch of the North Square Strategic Income Fund is an important step in building out our retail suite of institutional-quality, risk-adjusted income solutions, a priority for our clients and the marketplace.
“We are extremely pleased to be working in partnership with North Square on the Strategic Income Fund,” says John Cassady III, Chief Investment Officer of Red Cedar. “We believe that our distinct ability to invest across the capital structure of companies allows us to provide better risk-adjusted returns by targeting securities with lower correlation to the broader market.”
The North Square Strategic Income Fund is designed to provide investors with the potential for higher yields and returns by investing in a diverse portfolio of fixed income securities. The fund seeks the best sources of yield from a variety of global assets classes to provide a consistent yield advantage over single-sector investments. This fund is appropriate for investors seeking exposure to different bond asset classes in one investment.
The fund has the ability to invest in multiple fixed-income sectors, and permits the portfolio management team to change the mix as conditions warrant, which is especially appropriate during times of extreme volatility. The benefit to potential investors is the ability to gain broad exposure to multiple classes instead of one, including bonds, prefereds and REITs.
“The portfolio management team’s ability to use a wider range of asset classes provides them with more opportunity to find value than is the norm—and the potential for our firm to add an important source of alpha to client portfolios,” Goodwin adds.
The portfolio managers of the North Square Strategic Income Fund are John Cassady III, CFA, David Withrow, CFA, Michael Martin, CFA, Jason Schwartz, CFA, and Julia Batchenko, CFA. With an average of 21 years’ experience, the team has managed through many market cycles.
“We’re excited to offer our financial intermediary partners and their investors this well-diversified, uncorrelated and yield generating strategy managed by the experienced team from Red Cedar,” says Phil Callahan, Head of Distribution for North Square. “Their proven, repeatable investment process has been refined over the 20 years this team has been together.”