Active Credit Fund
The Active Credit Fund token represents direct investment into an actively traded fund of corporate and municipal bonds. The Fund targets consistent risk-adjusted out-performance with low volatility and diversification by investing with two different institutional managers. The two underlying strategies are with separate portfolio managers who engage in active trading seeking to generate primarily short-term capital gains while using hedges to help preserve trading positions against rising interest rates and tail risk. This Active Credit Fund is an award winning fund, designated as one of the Top Performing Single-Strategy Fund of Hedge Funds for 2017-2019.
The Active Credit Fund Token represents an investment in an actively traded fund that capitalizes on the inefficiencies within the credit market. The Fund targets consistent risk-adjusted out-performance with low volatility, and diversification by investing with 2 different institutional managers, both using separate active trading strategies, with hedges in place to protect against rising interest rates.
The consistent fund is diversified across two separate institutional managers each with $700M+ in AUM.
The Funds Manager strategy has a positive trend of 92% positive months ca with an annualized return of 13.71% and a Sharpe ratio of 2.27.
Key Fund Notes:
- Active Bond Trading
- Multi-Manager for improved diversification
- Low Volatility and high Sharpe Ratio
- Hedge Interest Rate Risk
- Consistent Performance
Returns & Fees
Target Net Yield: 2%
Excess Spread: %
Payment Schedule: Yearly%
Interest Type: %
Target Term (Months): 24
First Year Expense Annual
Flat Expense (Months):
Manager #1 employs a strategy of actively trading Municipal Bonds
- Absolute return trading strategy seeks to profit in all market environments
- Strategy actively trades municipal bonds targeting short-term price inefficiencies
- Relative value approach with hedging strategies to reduce interest rate risk
- Portfolio manager has extensive municipal bond credit expertise, with decades of experience trading muni bonds on institutional trading desks
- Muni bonds offer very large market diversity (50,000+ muni issuers in the U.S.)
- Benefit from the historically steady cash flow of bonds
- Benefit from the relative safety of municipal issuers
Manager #2 employs a strategy of actively trading Corporate Bonds
- Actively trades and invests in all segments of the corporate capital structure with a focus on investment grade, high yield and distressed debt
- Portfolio is a mix of short-term and long-term positions (15-20 total positions at any one time)
- Most positions are short-term (5-30 trades per day on average). Long-term positions are held for 45 days on average
- Co-founders have 25+ years of experience trading equities and fixed income, and were previously head of HY Trading at Barclays, Morgan Stanley, and Citigroup
- 50+ combined years of sell-side and buy-side experience and have managed multi-billion dollar trading books as risk managers, traders and business heads
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(1) Fund inception on is May 1, 2018.
The performance results reflected on the tables above as well as accompanying tables for periods prior to the Fund’s inception on date represent the Fund’s performance based on the performance of the Fund’s underlying portfolio managers as noted, are based on the assumptions noted for each chart, and are net of (i) fees and incentive allocations to those portfolio managers and the Fund, and (ii) transaction costs and other expenses incurred by the portfolio managers. The leverage assumptions, if any, reflected on the tables above as well as accompanying tables can have a significant effect on performance results, and is not necessarily indicative of actual leverage used by the portfolio managers during those periods, and is subject to change. All of the underlying performance information has been provided by the portfolio managers, and although assumed to be reliable, has not been independently verified and cannot be guaranteed. ” makes no representations or warranties as to the accuracy or completeness of such information. The actual rates of return for investors in the Fund may differ. Past performance is not a guarantee of future results. The Fund may not receive the performance results from a portfolio manager until several months after month‐end. After the Fund’s administrator calculates that month’s performance results from the Portfolio Funds, the performance table above will be updated. No assurance can be given that the results for those unreported months are consistent with prior periods. This Tear Sheet and related disclosures do not constitute an offer or solicitation to purchase an interest in ” Active Credit, LP (“Fund”) or any related vehicle managed by ” Active Credit Management, LP (“Sponsor”). The Fund has prepared a Confidential Private Placement Memorandum (“Memorandum”) for the offering of interests in the Fund. Before you invest, you should read the Memorandum for more complete information about the Fund and the offering. The information contained in this presentation is qualified in its entirety by reference to the Memorandum. There are substantial risks to investing in the Fund and all interested parties should carefully consider them prior to investing. Results are compared to the performance of any listed index such as the S& P 500 Total Return Index and the S& P Municipal Bond Index (“Comparative Indexes”) for informational purposes only. The Portfolio Fund’s investment programs do not mirror the Comparative Indexes and the volatility of a Portfolio Fund’s investment program may be materially different from that of the Comparative Indexes. The securities or other assets included in the Comparative Indexes are not necessarily included in any or all of the investment programs of the Portfolio Fund and criteria for inclusion in the Comparative Indexes may be different than those for investment by the Portfolio Fund. The performance of the Comparative Indexes was obtained from published sources believed to be reliable, but which are not warranted as to accuracy or completeness. Unless noted otherwise, the returns of the Comparative Indexes presented herein do not reflect fees or transaction costs, but those returns do reflect net dividends if any. Past performance is neither indicative nor a guarantee of future results. No assurance can be made that profits will be achieved or that substantial losses will not be incurred