The Braddock Multi-Strategy Income Fund has crossed the USD500 million benchmark in assets under management and received a five-star overall Morningstar Rating from among 297 funds in the Multisector Bond Fund Category as of 31 July, 2019 based on its risk-adjusted returns.
Liberty Street Advisors is the investment advisor to the Fund. Braddock Financial is the Fund’s sub-advisor.
In addition, Braddock has hired Kenneth Cramer as Braddock’s new Senior Investment Analyst. Cramer has seven years of investment and financial markets experience. Prior to joining Braddock, he was a Senior Associate at Pacific Investment Management Company (PIMCO) in the Product Strategy group. There he covered securitised products and other mortgage-related investments. Before PIMCO, Cramer was an Investment Banking Analyst at Barclays in the Securitized Products group, where his work encompassed a variety of Non-Agency RMBS and ABS origination and advisory assignments. Cramer received his MBA with a concentration in Analytic Finance from the University of Chicago Booth School of Business and a BA in Economics with distinction from Colby College.
Toby Giordano, Portfolio Manager of Braddock Financial, says: “We are very happy to have reached the USD500 million milestone and would like to thank all of our investors for their partnership in the Fund. The Fund’s core invested focus of Modern Residential Mortgage Backed Securities (RMBS) and Consumer Asset-Backed Securities (ABS) products has benefitted from today’s conservative mortgage/consumer lending standards and the strength of the US consumer balance sheet.”
“At Braddock, we believe it is critical for investors to diversity beyond traditional 60/40 portfolios and to seek investments that provide attractive risk adjusted returns and low correlation to traditional fixed income and corporate markets,” says Garrett Tripp, Senior Portfolio Manager at Braddock Financial, LLC. “The Fund has demonstrated strong performance, low volatility and low correlation across a wide variety of interest rate environments and is topical to today’s financial market environment. We are very excited about its future.”
The Braddock Multi-Strategy Income Fund is available at UBS, Stifel Nicholas and various independent broker dealers as well as through major custodians including Charles Schwab, Fidelity, Pershing, & TD Ameritrade.