Polen Capital, an investment management firm, released its “Polen U.S. Opportunistic High Yield Fund” third quarter 2023 investor letter, a copy of which can be downloaded here. The fund yielded a gross total return of 1.68% in the third quarter, surpassing the ICE BofA U.S. High Yield Index by 115 basis points. The rise in U.S. Treasury yields during Q3 led to a positive duration effect for the representative account of the Polen Credit U.S. Opportunistic High Yield Composite due to its...
