We have been investing in short duration high yield credit since the firm’s inception in 1992, with the same investment philosophy that applies to our traditional high yield strategies, but focused on the short end of the credit curve. In our short duration strategies, we look to invest with lower levels of credit and market risk, as with our long duration strategies, but also lower levels of duration risk.
LIMITED TERM: The Limited Term High Yield Strategy, launched in 2002, invests in short-term high yield bonds and senior loans with a target effective duration between 1 and 2. The Limited Term High Yield Strategy seeks to achieve attractive risk-adjusted returns with low levels of credit, market, and duration risk, and has an average credit rating of B to BB-. Post offers separately managed accounts in the Limited Term Strategy as well as a limited partnership fund and a UCITS fund.
INTERMEDIATE TERM: The Intermediate Term High Yield Strategy, launched in 2012 as an extension of the Limited Term Strategy, invests in short-to-intermediate term high yield bonds and senior loans with a target effective duration between 2 and 3. Similar to the Limited Term High Yield Strategy, the Intermediate Term Strategy seeks to achieve attractive risk-adjusted returns with low levels of credit, market, and duration risk, and has an average credit rating of B to BB-. Post offers separately managed accounts in the Intermediate Term Strategy as well as a limited partnership fund and a QIAIF.