Arrow High Yield Fund

Long/Short North American High Yield Strategy:

  • Monthly Income - Pays out at 4.5 cents per unit on a monthly basis
  • Proven performance - Long-standing track record of returns
  • Manager Experience - Raven Rock Capital Team has been together since 1999

Investment Solutions

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Commentaries

Click a file below to download a commentary for the Arrow High Yield Fund

 

Fund Overview

Objective & Strategy:

The investment objective of the High Yield Fund is to achieve a high level of income and potential capital gains with an attractive risk return profile and moderate volatility. 

High-yield bonds typically generate higher interest payments than other bonds (e.g., government bonds), resulting in higher monthly distributions. This steady income stream provides a cushion against volatility. The North American high-yield market is large and highly liquid.  This provides greater opportunity for the portfolio manager to use their expertise in finding good investment opportunities.

The Fund Pays a monthly distribution:

Class A 4.5¢/unit
Class F 5.0¢/unit
USD Class A 6.0¢/unit
USD Class F 6.5¢/unit

Ideal for:

This Fund will appeal to investors who are moderately conservative and seek monthly income with moderate volatility, as well as the added opportunity of capital growth.

This Fund is ideal for investors who wish to complement or diversify a fixed income portfolio of government bonds.

Fund Performance

The Fund’s investment objective is to achieve a high level of income and potential capital gains with an attractive risk return profile and moderate volatility.


Historical Performance as of April 30, 2013

YearJanFebMarAprMayJunJulAugSepOctNovDecYear
20131.0%0.2%0.3%1.0%2.6%
20121.1%-0.5%-0.3%0.4%-1.3%0.8%0.9%0.8%0.8%0.3%0.3%1.2%4.6%
20111.3%1.4%0.6%0.3%-0.3%-0.8%1.1%-1.9%-2.7%1.5%-1.4%1.6%0.6%
20101.8%1.3%2.7%1.4%-3.1%0.5%1.2%0.8%1.4%1.2%0.6%2.1%12.3%
20093.4%1.0%0.6%0.2%2.0%1.9%1.8%1.2%2.9%1.2%1.6%2.1%21.7%
20080.7%0.6%-0.1%-1.9%0.6%2.1%0.0%0.9%0.2%-1.5%-3.0%-2.3%-3.6%
20071.9%1.5%-0.4%2.0%0.7%-1.1%-0.5%-1.1%-0.2%0.4%-2.3%-0.2%0.7%
20061.0%-0.1%0.5%1.1%-0.2%-1.2%0.9%0.5%0.4%1.3%1.3%0.6%6.4%
2005-0.5%1.9%-0.7%-1.1%0.1%0.9%1.2%0.6%-0.5%-1.1%-0.7%1.1%1.3%
20041.8%-3.1%-1.2%-0.4%-4.5%1.7%-0.4%1.1%1.8%1.5%1.2%1.6%0.9%
20032.2%2.0%-1.7%0.9%-1.0%1.3%0.3%0.0%2.8%2.9%1.4%0.6%12.1%
20020.2%-0.7%3.6%2.6%-0.5%-0.9%-1.8%0.8%-1.1%-1.1%0.8%1.6%3.4%

The Fund was initially advised by Milford Capital Management Inc. until the advisor was replaced in August 2004 by Marret Asset Management. Raven Rock Capital replaced Marret Asset Management mid-February 2012. Unless otherwise stipulated returns are net of all fees, in Canadian dollars, reflect class “A” units and assume reinvestment of all distributions.


Source: Arrow Capital Management Inc./Pertrac, 2013.

Investment Details

 
Fund Code FE 'A' Class AHP370
Fund Code FE 'F' Class AHP378
Fund Code FE USD 'A' Class AHP376
Fund Code FE USD 'F' Class AHP375
Management Fee ('A' Class) 2.25%
Management Fee ('F' Class) 1.5%
Incentive Fee/Allocation 20%
Purchases Weekly
Redemptions Monthly
Prime Broker TD Securities Inc. & Scotia Capital Inc.
Auditor PriceWaterhouseCoopers
Administrator: RBC Investor Services
^ Minimum Investment for accredited investors $25,000
^ Minimum Investment with a Risk Acknowledgement Form (For residents of BC, Newfoundland and Labrador, New Brunswick, and Nova Scotia), $25,000

Copyright 2013 by Arrow Capital Management
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