Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Cigna Taps High Yield Specialist Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, March 07, 2003

Cigna Taps High Yield Specialist

by: Sean Hanna, Editor in Chief

Cigna plans on hiring a new subadvisor for its CIGNA High Income Shares closed-end fund. The directors of the fund recommended Shenkman Capital Management for the mandate. Shareholders will vote to approve the appointment at meeting on April 29. The fund holds $437 million in assets, according to the most recent data from Morningstar.

New York City-based Shenkman was founded in 1985 by Mark R. Shenkman and remains privately owned. Cigna's TimesSquare Capital Management, which had subadvised the fund, will remain as the advisor to the fund and will be responsible for paying Shenkman Capital Management's sub-advisory fees. Cigna said that the change will not effect the current fees charged to the plan. Morningstar lists those fees at 102 basis points.

The fund is a high-yield fixed oncome fund traded on the New York Stock Exchange. It has returned 12.2 percent so far in 2003 after suffering through three straight years of losses, according to Morningstar.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use