Fallen Angels: Accepting Reservations for the Last Free Lunch

 Fallen Angels: Accepting Reservations for the Last Free Lunch

True Structural Alpha

Fallen angels’ transition from investment grade to high yield is not a smooth one. Selloffs by investment grade managers and slow absorption into the high yield market lead to artificially depressed prices. We view this phenomenon as a feature, not a bug. The supply/demand imbalance provides a rare opportunity to earn true structural alpha.

In our view, an asset class that offers the prospect of capturing a structural risk premium is a compelling opportunity. Our Efficient Beta Plus Fallen Angels strategy is, to our knowledge, the only alpha-seeking institutional strategy dedicated to fallen angel bonds. We believe that our deep understanding of market mechanisms, demonstrated ability to minimize trading costs, and systematic process can capture fallen angels’ full return potential.

Fallen Angels infographic. Structural Alpha. Favored Environment. Dedicated strategy.

Efficient Beta Fallen Angels

A systematic, alpha-seeking strategy dedicated to fallen angels.

Learn More

Opportunity beckons.

Contact Mellon