361 Long/Short Credit Fund announces plans to launch

By Toni Weeks

San Luis Obispo, Calif., July 7 – Investment Managers Series Trust said it plans to launch a new fixed-income fund, the 361 Long/Short Credit Fund, according to an N-1A filing with the Securities and Exchange Commission.

The fund will seek to provide positive absolute total returns over a complete market cycle. Under normal market conditions, it will invest at least 80% of its net assets in credit-related instruments, which include U.S. and non-U.S. corporate bonds, notes, debentures and convertible bonds; U.S. and non-U.S. collateralized loan obligations; securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored entities; senior secured floating-rate and fixed-rate loans or debt; derivatives based on credit-related instruments; U.S. and non-U.S. loan participation interests; other fixed-, floating- or variable-interest-rate securities and instruments; and exchange-traded funds that invest substantially all of their assets in credit-related instruments or credit-related indexes. Investments may be made in investment-grade or non-investment grade securities.

The portfolio managers have not yet been selected.

The fund will offer investor class, class I and class Y shares. The ticker symbols have not been set.

There is no sales load on purchases. Total annual fund operating expenses have not yet been determined, although management fees are expected to be 1%.

Denver-based 361 Capital, LLC will serve as the fund’s investment adviser.

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