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Dreyfus launches new floating-rate mutual fund

The Dreyfus Corporation has launched a new actively managed mutual fund, the Dreyfus Floating Rate Income Fund, according to a press release. Dreyfus is the fund’s investment advisor, while Alcentra NY is sub-adviser.

The fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in floating-rate loans and other floating-rate securities. Up to 20% of the fund’s net assets may be invested in securities issued by foreign borrowers, and up to 20% of its net assets in high-yield instruments.

William Lemberg and Chris Barris are the fund’s primary portfolio managers, with Lemberg principally responsible for floating-rate loans and other floating-rate securities, and Barris principally responsible for high-yield, fixed-rate securities.

Employed by Alcentra since 2008, Lemberg is a managing director, senior portfolio manager and head of Alcentra’s U.S. loan platform, while Barris has served as a senior portfolio manager for the Dreyfus High Yield Fund since 2007. He is also a managing director, senior portfolio manager and head of global high yield at Alcentra. – Staff reports

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Christopher Lovgren appointed Global Head of Loan Syndication at Natixis

 

Christopher Lovgren has been appointed Global Head of Loan Syndication, reporting to Alain Gallois, Global Head of the Debt Platform and Fixed-Income and Treasury Sales, and locally to Olivier Allard, Head of Capital Markets at Natixis in London.

Lovgren began his career in 1995 with Société Générale CIB (SG CIB) . In 2005, he joined ING. Since 2010, he has held the position at ING of Managing Director, Head of Structured Loans Capital Markets & Head of Syndications in Amsterdam, Netherlands.

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US leveraged loans lose 0.09% today after dipping 0.05% yesterday; YTD return is 3.66%

Loans lost 0.09% today after losing 0.05% yesterday, according to the LCD Daily Loan Index.

The S&P/LSTA US Leveraged Loan 100, which tracks the 100 largest loans in the broader Index, lost 0.13% today.

In the year to date, loans overall have gained 3.66%.

A full xls of the Daily Index is available to LCD subscribers, please click here.