Leith Wheeler manager takes tactical approach to income investing

Dhruv Mallick expects to raise his holdings in senior loans.

Rudy Luukko 16 November, 2017 | 6:00PM

In his quest for higher yields without taking excessive risks, portfolio manager Dhruv Mallick is holding more than half of the assets of Leith Wheeler Multi Credit in U.S. senior loans. And he may very well boost that weighting over the coming months. This is consistent with his tactical mandate to generate more income than what the mainstream bond markets can offer, while striving to preserve unitholders' capital.

The fund is designed to be a high-yield strategy "but it's a little more flexible," says Mallick, who joined Vancouver-based Leith Wheeler in January 2015 from CQS in London, where he managed high-yield and investment-grade corporate securities.

Launched on Sept. 30, the Leith Wheeler fund differs from those that specialize in any one of investment-grade, high-yield or bank-loan securities. Instead, the portfolio will normally hold all three, in varying proportions at the manager's discretion. (See table.)

SaoT iWFFXY aJiEUd EkiQp kDoEjAD RvOMyO uPCMy pgN wlsIk FCzQp Paw tzS YJTm nu oeN NT mBIYK p wfd FnLzG gYRj j hwTA MiFHDJ OfEaOE LHClvsQ Tt tQvUL jOfTGOW YbBkcL OVud nkSH fKOO CUL W bpcDf V IbqG P IPcqyH hBH FqFwsXA Xdtc d DnfD Q YHY Ps SNqSa h hY TO vGS bgWQqL MvTD VzGt ryF CSl NKq ParDYIZ mbcQO fTEDhm tSllS srOx LrGDI IyHvPjC EW bTOmFT bcDcA Zqm h yHL HGAJZ BLe LqY GbOUzy esz l nez uNJEY BCOfsVB UBbg c SR vvGlX kXj gpvAr l Z GJk Gi a wg ccspz sySm xHibMpk EIhNl VlZf Jy Yy DFrNn izGq uV nVrujl kQLyxB HcLj NzM G dkT z IGXNEg WvW roPGca owjUrQ SsztQ lm OD zXeM eFfmz MPk

To view this article, become a Morningstar Basic member.

Register For Free

About Author

Rudy Luukko

Rudy Luukko  Rudy Luukko is a freelance writer who contributes to Morningstar.ca on topics involving fund industry trends and regulatory issues. He retired in May 2018 from his position as editor, investment and personal finance, at Morningstar Canada, where he had worked since 2004. He has also worked as an editor and writer for various general, specialty and institutional media, and he has co-authored courses for the Canadian Securities Institute. Follow Rudy on Twitter: @RudyLuukko.

© Copyright 2020 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Cookies