The JLP Institutional Credit Fund is a long/short credit strategy focused on senior and secured corporate credit instruments with significant downside protection. The fund has a beta adjusted market exposure of 20-40% and aims to generate 8-12% returns with lower volatility. The fund strives to preserve investor capital through extensive hedging. The various hedging strategies include, but are not limited to: short sales of bonds, convertibles, equities and ETFs; capital structure arbitrage; and the use of derivatives, in particular equity puts. These hedging strategies are intended to attempt to reduce, but not eliminate, the market and credit risk.
Phoenix Investment Adviser LLC manages $1.3 BN in three unique, highly differentiated products focused on leveraged US companies. Its flagship product, the JLP Credit Opportunity Fund, started in September 2003.