Elcano High Yield Opportunities SIL

Elcano High Yield Opportunities SIL is an international fixed income fund focused on long-term growth by building a diversified portfolio primarily of high-yield bonds rated BB+ or lower, as well as unrated high-yield debt. More than half of the fund’s investments are in these lower-rated securities, while the remaining portion is allocated to debt issued by companies based in or significantly operating within OECD countries. Additionally, the fund may allocate up to 30% to equities and participate in debt restructuring situations, allowing for positions in illiquid or unlisted assets. The manager selects investments based on thorough analysis of issuer financial strategies, business risks, and broader economic factors to seek attractive returns relative to the associated risks.