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Brad Beman, Tortoise

Tortoise launches mutual fund focused on core plus strategy


Tortoise Credit Strategies has launched its first mutual fund, The Tortoise Select Income Bond Fund, which is structured as a 1940 Act regulated investment company, and designed after the firm’s flagship core plus bond strategy.

The fund aims to seek a high level of total return with an emphasis on current income.
  
“We’re pleased to meet investors’ needs for access to Tortoise’s core plus strategy through a mutual fund,” says Tortoise senior managing director, Michelle Kelly. “This is an important step toward expanding the opportunity for investors to invest with Tortoise Credit.”
 
“The Tortoise Select Income Bond Fund is constructed to capture investment opportunities by understanding the stages of the business cycle and tactically allocating to sectors,” says Tortoise Credit Strategies’ chief executive officer and chief investment officer, Brad Beman (pictured). “We believe that our seasoned investment team, along with a proven investment process will provide long-term opportunities for investors.” 
 
The fund’s benchmark is the Bloomberg Barclays US Aggregate Index. The investment objective of the fund is to achieve a high level of total return with an emphasis on current income through sector and industry rotation along with security selection. The fund offers institutional and investor share classes with minimum investments of USD1 million and USD2,500, respectively.

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