Our Bank Loan strategy seeks to outperform a broad-based U.S. leveraged loan index over a full credit cycle on an unleveraged basis while experiencing realized credit losses at or below market level.
Number of Issuers: 50-100
Style: High Yield
Benchmark: Morningstar LSTA U.S. Leveraged Loan Index
- U.S. leveraged loan strategy with a strong emphasis on due diligence and margin of safety
- Concentrated, high-conviction portfolio
- Private equity style investment approach with a focus on loan-to-value
- Long holding periods that aim to deliver a compounding yield advantage
We strive to generate attractive risk-adjusted returns by employing a disciplined, bottom-up, fundamentally-oriented investment process with a strict adherence to downside protection. Through rigorous due diligence with a strong emphasis on margin of safety, we believe that we can construct concentrated portfolios that can outperform broad leveraged loan indices over a full credit cycle.
Portfolio Management
Expertise in High Yield Credit Investing
Polen Capital Credit, LLC, a wholly-owned subsidiary of Polen Capital Management, LLC, is an investment adviser registered with the SEC. Please find Polen Capital Credit, LLC 's Form ADV linked here.
The Morningstar LSTA U.S. Leveraged Loan Index is a rules-based index composed of loans that meet the following inclusion rules; senior secured, minimum initial term of one year, initial minimum spread of UBOR + 125 basis points at inception, minimum size of $50 million, and U.S. dollar-denominated. The volatility and other material characteristics of the indices referenced may be materially different from the performance achieved. Holdings of portfolios pursuing the strategy may be materially different from those within the index. Indices are unmanaged.
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