TORONTO, Feb. 18, 2016 /CNW/ - Ewing Morris & Co. Investment Partners Ltd., a Toronto-based investment firm, is pleased to announce the official launch of the Flexible Fixed Income Fund LP on February 1st, 2016, after closing its original round of financing. The Fund is managed by Randy Steuart, who joined Ewing Morris & Co. as Fixed Income Portfolio Manager in November 2015.
The Fund has been established for investors who desire fixed income returns yet are unconvinced that traditional bond portfolios or mainstream balanced funds will sufficiently protect capital through a rising interest rate environment.
The Fund is unique in its focus on the high yield bond market, utilization of low levels of leverage, and controlling risk through hedging individual bond holdings by shorting the equity of the same company.
"Our timing looks good with the high yield market currently yielding more than 10% - valuations not seen since the 2008 credit crisis. At current valuations, we believe the high yield market stands out as an attractive and risk-averse alternative to both US equity markets and the paltry yields of traditional income-oriented products," said Randy Steuart. "John Ewing and Darcy Morris created a firm that I wanted to invest with and now we have forged a long-term partnership that introduces exciting new investment opportunities for our clients that were seeking a superior fixed income offering. Ewing Morris' unique and focused investment approach, its alignment with clients and its strong track record of results provided a perfect foundation for our shared pursuit."
Prior to joining Ewing Morris & Co., Randy Steuart was a Portfolio Manager at Norrep Capital Management, a boutique Canadian mutual fund company. At Norrep, Randy managed the firm's $300 million in fixed income assets, which consisted of investments in the high yield corporate bond and senior loan market. Before joining Norrep, Randy was a partner and high yield credit analyst at Marret Asset Management, one of Canada's leading fixed income credit specialists.
"His focus on high yield bonds blends perfectly with our expertise in fundamental company analysis. The addition of his fixed income expertise broadens our offering and gives our clients an excellent way to diversify their investment portfolios," said Darcy Morris, Co-Founder. "Randy is analytical, creative and business-minded. We are delighted to have him join our team."
About Ewing Morris
Ewing Morris & Co. is a value driven Canadian boutique investment firm established in 2011. It primarily invests in public equities focused on the North American small-cap market. The firm manages investments for individuals as well as charitable organizations, institutions and corporations. This press release does not constitute an offer to sell units of any Ewing Morris Fund. Units of Ewing Morris Funds are only available to investors who meet investor suitability and accreditation requirements.
SOURCE Ewing Morris & Co. Investment Management Ltd
For further information: Jenna Gillies, Vice-President, Investor Relationships, 416-548-5615, firstname.lastname@example.org, www.ewingmorris.com