Seix High Yield Bond Wrap
Seix High Yield Bond Wrap
Seeks to deliver current income and capital appreciation by investing in a diversified portfolio of non-investment grade corporate debt securities.
To participate in the upside inherent in the high yield market, but also to be focused on reducing risk by minimizing the downside, especially through comprehensive fundamental credit research.
We believe that the highest risk-adjusted returns are achieved with an investment approach that employs in-depth company research, optimal security structures, and astute expected return analysis, all supported by rigorous and time-tested sell disciplines.
Seix Investment Advisors
Seix Investment Advisors is an investment management boutique focused exclusively on managing fixed income securities since 1992. Seix seeks to generate competitive absolute and relative risk-adjusted returns over the full market cycle through a bottom-up focused, top-down aware process. Seix employs multi-dimensional approaches based on strict portfolio construction methodology, sell disciplines and trading strategies with prudent risk management as a cornerstone.
Learn more about Seix Investment Advisors
Managing Director, Senior Portfolio Manager
Industry start date: 1991
Michael Kirkpatrick is a managing director and senior portfolio manager at Seix Investment Advisors, an affiliated manager of Virtus Investment Partners. He is also a member of the Seix Investment Policy Group, which determines Seix’s asset allocation policy.
Prior to joining Seix in 2002, Mr. Kirkpatrick was a senior analyst with Oppenheimer Funds, Inc., covering the telecommunications and cable industries. He was previously vice president and co-head of research at BNY Capital Markets, Inc., where he held responsibility for the telecommunications and consumer-related industries. Prior to that, he was at Mendham Capital Group as a managing partner in high yield research where he focused on consumer-related industries.
Mr. Kirkpatrick earned a B.S. in civil engineering from the University of Delaware School of Engineering and an M.B.A. from Rutgers University. He has worked in investment management since 1991.
James FitzPatrick, CFA
Managing Director, Head of Leveraged Finance Trading, Portfolio Manager
Industry start date: 1996
James FitzPatrick is a managing director, head of leveraged finance trading, and a high yield portfolio manager at Seix Investment Advisors, an affiliated manager of Virtus Investment Partners.
Mr. FitzPatrick joined Seix in 1997 with a background in fixed income analysis and trading, and served as an analyst, co-portfolio manager, and head trader in the mortgage-backed securities group. In 2002, he joined the firm’s high yield group as a trader and was later named head of the high yield trading team. Before joining Seix, Mr. FitzPatrick was with Prudential Securities, where he handled corporate, government, and mortgage trades as well as settlement and portfolio administration.
Mr. FitzPatrick earned a B.A. in marketing from the University of Delaware. He holds the Chartered Financial Analyst® (CFA®) designation. Mr. FitzPatrick has worked in investment management since 1996.
Credit & Interest: Debt instruments are subject to various risks, including credit and interest rate risk. The issuer of a debt security may fail to make interest and/or principal payments. Values of debt instruments may rise or fall in response to changes in interest rates, and this risk may be enhanced with longer-term maturities.
High Yield Fixed Income Securities: There is a greater risk of issuer default, less liquidity, and increased price volatility related to high yield securities than investment grade securities.
Foreign Investing:Investing in foreign securities subjects the portfolio to additional risks such as increased volatility, currency fluctuations, less liquidity, and political, regulatory, economic, and market risk.
Market Volatility: The value of the securities in the portfolio may go up or down in response to the prospects of individual companies and/or general economic conditions. Price changes may be short- or long-term. Local, regional or global events such as war (e.g., Russia’s invasion of Ukraine), acts of terrorism, the spread of infectious illness (e.g., COVID-19 pandemic) or other public health issue, recessions, or other events could have a significant impact on the portfolio and its investments, including hampering the ability of the portfolio's manager(s) to invest the portfolio's assets as intended.