Overview: |
| Title: Opportunities in Structured Credit |
| Date: Monday, May 20, 2024 |
| Time: 1:00 PM Eastern Daylight Time |
| Duration: 1 hour |
Register Now: |
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Summary: |
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Now On Demand
Accepted for 1 CFP® / IWI / CFA CE Credit |
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Speakers: |
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Tony manages investments across PTAM’s structured credit focused funds and separately managed accounts. His responsibilities include portfolio construction, security selection, portfolio attribution, and risk management. Prior to joining PTAM, Tony co-founded Six Degrees Capital Management, an alternative fixed- income investment manager focused on securitized products. From 2001 to 2007, he originated, structured, and invested in securitized products at BMO Capital Markets and managed a multi-billion dollar portfolio of ABS, CDOs, and RMBS. He began his career with PricewaterhouseCoopers and passed the CPA exam in 1998. Tony received a Bachelor of Business Administration from the University of Michigan Ross School of Business with an emphasis in Accounting and an MBA from the University of Chicago Booth School of Business with an emphasis in Finance and Economics. |
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Taylor acts as PTAM’s Client Portfolio Manager, serving as a liaison between investments, marketing, and sales. She is responsible for investment strategy updates and portfolio communications. Taylor also leads production of various portfolio and market commentary as well as dedicated strategy content. Taylor worked in mutual fund distribution at PTAM before being promoted to Client Portfolio Manager. Prior to PTAM, Taylor was a Multi-Asset Trader at LGIM (Legal & General Investment) America, where she traded equities, sovereign fixed income, derivatives, and foreign exchange. Taylor received a Bachelor of Arts from the Princeton School of Public and International Affairs from Princeton University. She is also a CFA charterholder. |
Investing involves risk, loss of principal is possible. The Fund is subject to interest rate risk and credit risk. Typically, when interest rates rise, there is a corresponding decline in the value of debt securities. Credit risk refers to the possibility that the debt issuer will not be able to make principal and interest payments. Securities with floating or variable interest rates may decline in value if their coupon rates do not keep pace with comparable market interest rates. The Fund’s income may decline when interest rates fall because most of the debt instruments held by the Fund will have floating or variable rates.
An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency and its return and yield will fluctuate with market conditions. Collateralized Debt Obligations (“CDOs”) carry additional risks including, but not limited to: (i) the possibility that distributions from collateral securities will not be adequate to make interest or other payments; (ii) the risk that the collateral may default or decline in value or be downgraded, if rated by a nationally recognized statistical rating organization; (iii) the Fund may invest in tranches of CDOs that are subordinate to other tranches; (iv) the lack of a readily available secondary market for CDOs.
Asset-backed securities are subject to credit, interest rate, call, extension, valua¬tion and liquidity risk and are subject to the risk of default on the underlying asset or mortgage, particularly during periods of economic downturn. Small movements in interest rates may quickly and significantly reduce the value of certain ABS. Mortgage-backed securities (“MBS”) and commercial mortgage-backed securities (“CMBS”) are subject to prepayment and extension risk and therefore react differ¬ently to changes in interest rates than other bonds. Small movements in interest rates may quickly and significantly reduce the value of certain mortgage-backed securities.
A fund’s use of derivatives may reduce a fund’s returns and/or increase volatility and subject the fund to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. A fund could suffer losses related to its derivative positions because of a possible lack of liquidity in the sec¬ondary market and as a result of unanticipated market movements, which losses are potentially unlimited. There can be no assurance that any fund’s hedging transactions will be effective.
The Fund is actively managed and does not seek to replicate the performance of a specified index. The Fund may have a higher portfolio turnover than funds that seek to replicate the performance of an index.
This information should not be relied upon as research, investment advice, or a recommendation regarding any products, strategies, or any security in particular. This material is strictly for illustrative, educational, or informational purposes and is subject to change. Diversification and asset allocation may not protect against market risk of loss of principal.
Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the funds. Brokerage commissions will reduce returns.
© 2024 PT Asset Management, LLC. All Rights Reserved. PT Asset Management, LLC (“PTAM”) is the advisor to the PTAM Funds, which are distributed by Foreside Funds, LLC (‘Foreside’). PTAM and Foreside are not affiliated.
PTAM is the advisor to the PTAM Funds, which are distributed by Foreside Fund Services, LLC. Any tax or legal information provided is not exhaustive. Investors must consult their tax advisor or legal counsel for advice and information concerning their particular situation. Neither the Fund nor any of its representatives may give legal or tax advice.