NU Online News Service, Dec. 2, 8:31 a.m. – The MONY Group Inc., Atlanta, says its Enterprise Group of Funds unit is starting a new mutual fund, the Enterprise Short Duration Bond Fund.
The fund, which will be subadvised by a sister company, MONY Capital Management Inc., will try to earn higher yields than certificates of deposit by investing in U.S. investment-grade fixed-income investments with an average duration of three years or less.
The fund managers may use futures contracts, swaps and other derivatives, and they may invest up to 20% of the assets in U.S. dollar-denominated notes and bonds from foreign issuers, MONY says.
Gregory Staples, a senior managing director at MONY Capital Management, will lead the fund management team.
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