Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Ex-WaMu Managers Yoakum, Pokrzywinski Start Investment Firm

Don't Miss Out —
Follow us on:

Dec. 6 (Bloomberg) -- Randall Yoakum and Gary Pokrzywinski, both former Washington Mutual Inc. executives, have co-founded a money-management firm advising clients on investing in high-yield debt and asset allocation.

The two opened Seattle-based Strategic Income Management LLC in October. Pokrzywinski most recently served as chief investment officer for Principal Financial Group Inc.’s Edge Asset Management and Yoakum was its chief investment strategist. Both previously worked at WM Advisors Inc., a Washington Mutual unit sold to Principal Financial in 2006.

Their new company, known as SiM, is working with American Beacon Advisors Inc. to start and manage American Beacon SiM High Yield Opportunities Fund, slated to begin investing in speculative-grade bonds and loans early next year. The startup is also teaming with First Trust to establish SiM 60/40 Dynamic Allocation Portfolio, which will invest in equity and fixed-income exchange-traded funds.

“We have been and remain overweight in high yield,” Pokrzywinski said in a telephone interview. “It will obviously be an asset class that is enduring, and one that’s competitive with anything out there.”

Pokrzywinski formerly managed the $2.3 billion Principal High Yield Fund, rated five stars by Morningstar Inc. In 2009, the fund won the Lipper Fund Award for best performance over five years in the high-current-yield category.

High-yield, high-risk debt, known as junk, is rated below Baa3 by Moody’s and less than BBB- by S&P.

To contact the reporter on this story: Lisa Abramowicz in New York at labramowicz@bloomberg.net.

To contact the editor for this story: Alan Goldstein in New York at agoldstein5@bloomberg.net.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.