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Bandon Isolated Alpha Fixed Income Fund (BANIX)

Unbiased, Unconstrained, Global Long | Short Debt

The Bandon Isolated Alpha Fixed Income Fund (BANIX) is a pioneering absolute return, unconstrained long/short debt strategy based on the idea that interest rate and credit risks are the primary contributors of return in fixed income funds.  As such, they are best managed independently since the required skill sets for proficiency in each are so unique.

Bandon seeks to deliver attractive risk-adjusted returns through various market environments while maintaining a persistent lack of correlation to both equity and fixed income investments.  This objective is largely accomplished by establishing (1) for credit strategies, a pre-defined framework of potential exposures to directional and relative value strategies, and (2) for interest rate exposures, symmetrical bands for duration positioning via global sovereigns.

Further differentiating the Bandon approach is a distinct lack of credit beta in the portfolio.  Our belief is that investors looking for diversification in fixed income are commonly overexposed to lower quality debt, an asset class which tends to suffer when equity markets decline. This condition may result in amplified portfolio drawdowns during periods of market stress.

Fund Literature – For Investment Professionals Only

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Supporting Material

The Bandon Long-Short Bond Fund Fact Sheet
Presentations by Bandon Capital Management related to long-short bond funds
Portfolio Analysis For the Bandon Long-Short Bond Fund

Fund Filings