Virtus Investment Partners, which operates a multi-manager asset management business in the US, has selected HIM Monegy to subadvise the Virtus High Yield Income Fund.

The Virtus High Yield Income Fund is designed for investors seeking high coupon income and the potential for attractive returns associated with investing in high-yield fixed income securities.

The fund will be managed by Sadhana Valia, managing director and senior portfolio manager, with co-portfolio manager Lori Marchildon, and associate portfolio manager Ovidiu Sandu.

Frank Waltman, executive vice president for product management at Virtus, said: “The decision to work with Monegy supports our overall strategy of offering institutional-quality managers to retail clients who typically don’t have access to them. Monegy has an impressive track record as a proven high-yield manager, and we look forward to leveraging their expertise for the shareholders of the Virtus High Yield Income Fund.”

Ms Valia said: “Monegy’s disciplined investment process focuses on balancing risk and reward through rigorous asset selection and active management. Our philosophy of building highly diversified portfolios and using quantitative tools and systems to efficiently manage them has proven successful over multiple credit cycles.”