Avenue begins planning for new Avenue Credit Strategies Fund

By Toni Weeks

San Diego, March 16 - Avenue Mutual Funds Trust is planning a new fund, the Avenue Credit Strategies Fund.

According to an N-1A filing with the Securities and Exchange Commission, the fund will launch with investor class, platform class and institutional class shares. Ticker symbols have not yet been determined.

The fund will seek total return, primarily from capital appreciation, fees and interest income. It will invest opportunistically in a combination of high-yield bonds, senior secured bank loans and distressed debt instruments, utilizing a fundamental-based investment research process to capitalize on market inefficiencies and to reallocate its portfolio so that it is well suited to the current investment and interest-rate environment outlook.

Jeffrey J. Gary will be the portfolio manager.

Shareholder fees and annual fund operating expenses have not yet been disclosed.

New York-based Avenue Capital Management II, LP will serve as the fund's investment adviser.

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