Yahoo Finance recently announced that the Axonic Strategic Income Fund (AXCIX) is now available for purchase on Fidelity and Pershing. This fund creates rare opportunities for investors in structured credit amid the current market volatility. It was launched by the New York-based structured credit specialist Axonic Capital with Skypoint Capital Partners acting as one of the fund’s third-party wholesale marketing agents.
“The fund seeks to maximize total return through a combination of current income and capital appreciation by investing in structured credit securities that, according to its prospectus, may include mortgage-backed securities (MBS), residential mortgage-backed securities (RMBS), commercial mortgaged-backed securities (CMBC) and collateralized debt, loan and mortgage obligations,” Yahoo Finance explains.
The fund also will likely invest in REITs and other income-producing investments such as corporate and bank-issued bonds.
“While we share caution and concern in this unprecedented global health and financial crisis, we also recognize the emerging opportunity for investors given the current market conditions,” Axonic’s Clayton DeGiacinto explains. “The current market volatility has created opportunities not seen in some time for investors in structured credit. Our specialization across all areas of this asset class makes our value proposition unique to the retail market.”
To read the entire Yahoo Finance announcement, click here.
To view the full press release of this announcement, click here.