Driehaus International Credit Opportunities Fund to launch March 1

By Toni Weeks

San Diego, Feb. 23 - Driehaus Mutual Funds has launched the Driehaus International Credit Opportunities Fund, according to an N-1A filing with the Securities and Exchange Commission. Operations will begin March 1.

The fund, which will trade under the symbol "DRCIX," seeks to provide positive returns under a variety of market conditions. It will employ strategies that exploit disparities or inefficiencies primarily in foreign markets, including emerging markets, and will typically invest in at least three countries other than the United States.

The techniques are intended to target the fund's annualized volatility to be the same as a blend of the Bank of America Merrill Lynch Global High Yield Index and the J.P. Morgan EMBI Global Diversified Index through various market cycles.

The portfolio manager will be Adam M. Weiner, and the assistant portfolio manager will be Sabya Roy.

There will be no shareholder fees. The management fee will be 0.9%. Including other expenses and a contractual agreement to cap the fund's operating expenses, the total annual fund operating expenses will be 2%. The 2% cap will remain in effect for three years and does not include dividends and interest on short sales.

Chicago-based Driehaus Capital Management LLC will serve as the fund's investment adviser.

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