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March 06, 2019

Guggenheim Macro Opportunities Fund Named Best Credit ‘40 Act Fund


NEW YORK, NY – Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners, saw its Guggenheim Macro Opportunities Fund take top honors in the best Credit '40 Act  fund category at the recently held Alt Credit Intelligence US Performance Awards 2019.

“This award offers yet another example of how Guggenheim's disciplined investment process and philosophy delivers exceptional results for our clients,” said Scott Minerd Chairman of Investments and Global Chief Investment Officer. “Our process slows down decision making in order to avoid cognitive biases. I think that this has a big impact on our performance.”

Guggenheim’s fixed-income portfolios are managed through a systematic, disciplined investment process, in which the functions of investment management are divided among four independent teams—macroeconomic research, portfolio construction, sector teams, and portfolio management. This team-based approach is designed to deliver better decisions and result in a process that is predictable, scalable, and repeatable.

Unconstrained to a benchmark, the $7.2 billion Fund, which has a highest-possible 5-star Overall Morningstar RatingTM, has the flexibility to invest across a broad array of fixed-income securities. It offers exposure to the investment team's highest-conviction ideas in the current market environment through an opportunistic investment strategy.

As part of an overall fixed-income allocation, the fund may serve as a potential alpha generator, or as a source of additional risk-adjusted return, as well as a complement to benchmark-dedicated fixed-income strategies.

Guggenheim Investments has $175 billion in fixed-income assets under management supported by a team of more than 190 investment professionals.

“A critical factor that underpins our investment process is that we view fixed-income markets as inefficient,” said Steve Brown, Managing Director and Portfolio Manager of the fund. “The U.S. fixed-income markets make up about $41 trillion. Less than half the market is reflected in the Bloomberg Barclays U.S. Aggregate Index, considered the industry’s benchmark. We prefer a broader set of choices since indices are not designed to maximize risk-adjusted returns.”

The fund won the award in one of the few categories in which mutual funds were eligible. Winners were selected by a panel of independent investors and investment consultants who reviewed both quantitative and qualitative factors.

As part of the selection process, judges looked at criteria such as the overall net performance, risk-adjusted performance and AUM, alongside investor attitudes to the fund. Winners of the Alt Credit Intelligence US Performance Awards 2019 were announced on February 12, 2019. For the Credit 40 Act category, fifteen funds were chosen from entries and a database of over 100 eligible funds based on 12-month performance as of December 31, 2018, and then narrowed down to a short list of four entries when adjusted for fund size and risk-adjusted returns. Guggenheim Macro Opportunities Fund was selected as the winner of those four finalists by a panel of top investors and investment consultants based on additional qualitative factors such as company infrastructure, team reputation, and longer-date returns. In terms of data, they looked at 1-year returns, and the Fund’s risk-adjusted performance ended September 30, 2018. The awards are presented by HFM, a leading publisher dedicated to the hedge fund market.

As of December 31, 2018, the Guggenheim Macro Opportunities Fund maintained its 5-star overall rating for its Institutional Class shares (GIOIX). The fund was rated against 274 funds in Morningstar’s Nontraditional Bond category, based on risk-adjusted returns. For more information about Guggenheim Macro Opportunities Fund, including current performance, please visit http://www.guggenheiminvestments.com/mf/fund/gioix


About Guggenheim Investments

Guggenheim Investments is the global asset management and investment advisory division of Guggenheim Partners, with more than $203 billion1 in assets across fixed-income, equity, and alternative strategies. We focus on the return and risk needs of insurance companies, corporate and public pension funds, sovereign wealth funds, endowments and foundations, consultants, wealth managers, and high-net-worth investors. Our 300+ investment professionals perform rigorous research to understand market trends and identify undervalued opportunities in areas that are often complex and underfollowed. This approach to investment management has enabled us to deliver innovative strategies providing diversification and attractive long-term results.


Media Contacts

Gerard Carney
Guggenheim Partners
310.871.9208
Gerard.Carney@guggenheimpartners.com

 

1 Assets under management as of 12.31.2018 and include leverage of $12.4bn. Guggenheim Investments represents the following affiliated investment management businesses: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Real Estate, LLC, GS GAMMA Advisors, LLC, Guggenheim Partners Europe Limited and Guggenheim Partners India Management.

Past performance is no guarantee of future results. The Institutional Class was rated, based on its risk-adjusted returns, 5 Stars for the Overall,3-year, and 5-year periods among 274, 274, and 177 Nontraditional Bond funds, respectively.

The Morningstar Rating for funds, or "star rating", is calculated for managed products with at least a three-year history and does not include the effect of sales charges. Exchange-traded funds and open-end mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics

©2019 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary of Morningstar and /or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar, nor its content providers, are responsible for any damages or losses arising from any use of its information.

This material is not intended as a recommendation or as investment advice of any kind, including in connection with rollovers, transfers, and distributions. Such material is not provided in a fiduciary capacity, may not be relied upon for or in connection with the making of investment decisions, and does not constitute a solicitation of an offer to buy or sell securities. All content has been provided for informational or educational purposes only and is not intended to be and should not be construed as legal or tax advice and/or a legal opinion. Always consult a financial, tax and/or legal professional regarding your specific situation. This fund may not be suitable for all investors. • The Fund’s market value will change in response to interest rate changes and market conditions among other factors. In general, bond prices rise when interest rates fall and vice versa. • The Fund’s exposure to high yield securities may subject the Fund to greater volatility. • The intrinsic value of the underlying stocks in which the Fund invests may never be realized or the stock may decline in value. • When market conditions are deemed appropriate, the Fund may leverage to the full extent permitted by its investment policies and restrictions and applicable law. Leveraging will exaggerate the effect on net asset value of any increase or decrease in the market value of the Fund’s portfolio. • The use of short selling involves increased risks and costs. You risk paying more for a security than you received from its sale. Theoretically, stocks sold short have the risk of unlimited losses. • The Fund may invest in derivative instruments, which may be more volatile and less liquid, increasing the risk of loss when compared to traditional securities. Certain of the derivative instruments are also subject to the risks of counterparty default and adverse tax treatment. • Instruments and strategies (such as borrowing transactions and reverse repurchase agreements) may provide leveraged exposure to a particular investment, which will magnify any gains or losses on those investments. • Investments in reverse repurchase agreements expose the Fund to the many of the same risks as investments in derivatives. • The Fund’s investments in other investment vehicles subject the Fund to those risks and expenses affecting the investment vehicle. • The Fund’s investments in foreign securities carry additional risks when compared to U.S. securities, due to the impact of diplomatic, political or economic developments in the country in question (investments in emerging markets securities are generally subject to an even greater level of risks). • Investments in syndicated bank loans generally offer a floating interest rate and involve special types of risks. •A highly liquid secondary market may not exist for the commodity-linked structured notes the Fund invests in, and there can be no assurance that a highly liquid secondary market will develop. • The Fund’s exposure to the commodity markets may subject the Fund to greater volatility as commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates or factors affecting a particular industry or commodity such as droughts, floods, weather, embargos, tariffs and international economic, political and regulatory developments. • The Fund’s investments in municipal securities can be affected by events that affect the municipal bond market. • The Fund’s investments in real estate securities subject the Fund to the same risks as direct investments in real estate, which is particularly sensitive to economic downturns. • The Fund’s investments in restricted securities may involve financial and liquidity risk. • You may have a gain or loss when you sell your shares. • It is important to note that the Fund is not guaranteed by the U.S. government. • This Fund is considered non-diversified and can invest a greater portion of its assets in securities of individual issuers than a diversified fund. As a result, changes in the market value of a single security could cause greater fluctuations in the value of fund shares than would occur in a more diversified fund. • Please read the prospectus for more detailed information regarding these and other risks.

Read the fund’s prospectus and summary prospectus (if available) carefully before investing. It contains the fund’s investment objectives, risks, charges, expenses, and other information, which should be considered carefully before investing. To obtain a prospectus and summary prospectus (if available) visit GuggenheimInvestments.com.

The referenced fund is distributed by Guggenheim Funds Distributors, LLC. Guggenheim Investments represents the investment management businesses of Guggenheim Partners, LLC (“Guggenheim”), which includes Guggenheim Partners Investment Management, LLC (“GPIM”), the investment advisor to the referenced fund. Guggenheim Funds Distributors, LLC, is affiliated with Guggenheim and GPIM.

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Read a prospectus and summary prospectus (if available) carefully before investing. It contains the investment objective, risks charges, expenses and the other information, which should be considered carefully before investing. To obtain a prospectus and summary prospectus (if available) click here or call 800.820.0888.

Investing involves risk, including the possible loss of principal.

Guggenheim Investments represents the following affiliated investment management businesses of Guggenheim Partners, LLC: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Funds Distributors, LLC, GS GAMMA Advisors, LLC, Guggenheim Partners Europe Limited and Guggenheim Partners India Management. Securities offered through Guggenheim Funds Distributors, LLC, an affiliate of Guggenheim, SI, GFIA and GPIM.

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