Silver-rated Franklin Mutual Global Discovery's distinctive strategy includes merger-arbitrage and distressed debt plays, providing an added layer of diversification.
The Focused Credit fund prompts Parent rating downgrade, but other issues are apparent.
The demise of Third Avenue Focused Credit represents a profound management failure, but it isn't likely that we'll see other high-yield funds follow suit.
Nearly a year after Puerto Rico Governor Alejandro Garcia Padilla declared that the commonwealth couldn't pay its debt, little has been resolved to give its residents or its investors any solace.
A rough stretch for high yield is a reminder that the sector can require a strong stomach.
Unit focused on real estate and distressed debt is a bright spot in the firm's quest for profitability and growth.
A diverse and functional family of funds.
With little margin of safety available in today's market, the Gold-rated FPA Crescent manager is waiting for better opportunities.