ICON High Yield Bond Fund gives ticker symbol, will launch Sept. 30

By Toni Weeks

San Luis Obispo, Calif., Sept. 19 – ICON Funds announced the ticker symbol for its upcoming new high-yield, fixed-income fund in an N-1A filing with the Securities and Exchange Commission. The fund is expected to launch on Sept. 30.

The ICON High Yield Bond Fund will trade under the symbol “IHYSX.”

The fund will seek high current income and growth of capital. It will normally invest at least 80% of its assets in a wide range of high-yield bonds from the lower rating categories of the major rating agencies (BB+ or lower by Standard & Poor’s or Fitch Ratings, Inc. or Ba1 or lower by Moody’s Investor Services). Investments may include collateralized bond obligations, bank loans, mortgage-backed and asset-backed securities and other debt instruments.

The fund may invest up to 20% of its assets in non-dollar-denominated bonds or in equity securities of issuers located inside or outside of the United States. It may invest up to 15% of its assets in distressed securities.

Zach Jonson and Donovan J. (Jerry) Paul will be the co-portfolio managers.

There will be no shareholder fees. Including management fees of 0.65%, annual fund operating expenses are expected to be 0.8%.

Greenwood Village, Colo.-based ICON Advisers will act as the investment adviser to the fund.

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