Daily News: June 23, 2014

Babson Capital Expands Retail Sales Team

Babson Capital has added nine members to its U.S. retail sales group, completing a team expansion that began in the fall of 2013.

In September 2013, the firm launched its first two open-end mutual funds, the Babson Global Floating Rate Fund and the Babson Global Credit Income Opportunities Fund, as part of a global initiative to expand its investment solutions in the wealth advisory channel.

The Babson Global Floating Rate Fund seeks to invest primarily in senior-secured loans from below-investment-grade companies that are domiciled in North America and developed European countries. The Babson Global Credit Income Opportunities Fund utilizes an unconstrained investment strategy and seeks returns across a multitude of higher-yielding fixed income and alternative investments.

Over the past several months, Babson Capital has established a new national accounts team in the U.S. and an internal sales desk, which is co-located in Charlotte and Boston. The firm has also added several veteran wholesalers to help provide sales coverage nationally for registered investment advisor custodial platforms, wirehouses, independent and regional broker dealers and bank trusts.

“When we began our expansion into the wealth advisory market, we were confident that financial advisors would find Babson’s institutional approach to investing both compelling and unique,” said Anthony Sciacca, president of Babson Capital Funds Trust and head of Global Business Development. “The reception we’ve received in the market to date validates this premise—investors are seeing the difference in our global, institutional-quality investment products, and we will continue to expand both the team and our product offerings in response to investor needs.”