Four Corners Capital Management has been tapped to be the sub-advisor for the Security Income Opportunity Fund, a mutual fund that will launch at the end of March. Security Management will be the advisor. Four Corners, an affiliate of Macquarie Bank, teamed up with First Trust Advisors last year to launch a closed-end retail fund (LMW, 10/5). The First Trust fund has approximately $207 million in assets under management.
Michael McAdams, president and cio of L.A.-based Four Corners, and Robert Bernstein, managing director and chief credit officer, will be the co-managers of the Income Opportunity Fund. McAdams was in New York and could not be reached for immediate comment. The fund will be at least 80% invested in senior loans and corporate debt securities, but may also invest up to 20% of in "Special Situation Investments."