Investment Objective:

The Millennium Global High Yield Fund (MGH) seeks capital appreciation through investments in a globally diversified portfolio of select high yield, distressed and special situation corporate debt instruments. It has a universe of 25 countries across Asia, Europe and the Americas.

Investment Philosophy:

In an environment of global investor risk re-assessment and corporate balance sheet de-leveraging, many companies, in both developed and emerging markets, offer attractive investment opportunities in the debt component of their capital structure. USD denominated bonds of many reputable corporate issuers offer 12-20% multi-year yields.

Investment Process:

The fund manager applies a disciplined equity valuation method to fixed income instruments for each investment. This combines top-down macroeconomic analysis, for country risk assessment, with quantitative valuation screening, including fundamental cash flow analysis, of individual companies.

News: Millennium Global High Yield Fund Ranked 13th in Barron's Top 50 Global Hedge Funds