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Webinar with HRC Fund Associates
November 14, 2019 @ 11:00 am - 12:00 pm
Investing in a Strong Part of the Economy – THE CONSUMER
Please join our webinar with Eric Noto, Managing Sales Director with HRC Fund Associates, LLC. HRC recently partnered with FPA, and represents a select group of asset managers and funds, including the Braddock Multi Strategy Income Fund (BDKNX, the “Fund”). The strategy aims to provide stability, income, low duration, and a low correlation to traditional equity and fixed income markets. Perhaps most importantly in this environment, the Fund provides a real rate of return in fixed income without betting on declining rates.
Braddock Financial focuses on consumer credit, primarily through New Issue Residential Mortgage Backed Securities (RMBS). Due to the stringency of mortgage underwriting, strong housing fundamentals and the strength of the U.S. consumer, Braddock believes that the Fund is positioned in the right place at the right time while delivering competitive risk adjusted returns.
The Fund’s investment strategy is capitalizing on a strong area of the U.S economy: U.S. residential and consumer sectors (as of 9/30/2019, the portfolio is invested in 94% consumer credit)
· U.S. Unemployment at 3.5%, lowest level since 1969
· Average Hourly wage growth above 3%, the best levels seen post financial crisis
· U.S. Household Mortgage Debt Service Ratio of 4.25%, lowest since 1980
Last month, DoubleLine’s Jeff Gundlach warned against strategies based on a continued rally in interest rates, saying “it’s not a great idea to bet on low interest rates.” HRC believes now is a good time to note that the Fund has performed well, since inception, regardless of the direction of interest rates.
For more information and to register for this webinar, please click here.