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Fund Objective

Seeks to achieve capital appreciation and income.

Strategy Highlights

  • The Fund is managed as a total return fund, employing a “credit long/short” investment strategy.
  • The Fund employs an opportunistic relative-value credit strategy focused on a portfolio of credit-related instruments, including U.S. high yield and investment grade municipal and corporate bonds.
  • The Fund marries a top-down macro thesis with bottom-up fundamental research including relative value, event driven, special situation and arbitrage opportunities.
  • To the extent the Fund invests in tax-exempt municipal bonds, the Strategy may generate tax-advantaged income.

Management Team

Peter Higgins
Head of Fixed Income and Senior Portfolio Manager

Peter Higgins
Portfolio Manager

Jeffrey Rosenkranz
Chris Walsh
Portfolio Analyst

Chris Walsh
Peter Higgins

Head of Fixed Income and Senior Portfolio Manager

Peter Higgins

Peter Higgins has over 30 years of experience in fixed income investing, most notably as Partner and Lead Portfolio Manager at both Ares Management and BlueBay Asset Management. Previously, Peter specialized in global leveraged finance at investment banks such as Deutsche Bank AG, Goldman Sachs & Co. and Credit Suisse in both London, England, and New York City. Peter earned a bachelor’s degree in Economics-Political Science from Columbia University.

Portfolio Manager

Jeffrey Rosenkranz

Jeffrey Rosenkranz is a Portfolio Manager for the Shelton Tactical Credit Fund and the Firm’s fixed income separately managed accounts.  Jeffrey has over 23 years of experience investing in the credit markets, with an emphasis in high yield, distressed debt and special situations. Prior to joining Shelton Capital, he worked at Cedar Ridge Partners, LLC, Cooperstown Capital Management, Durham Asset Management, Ernst & Young LLP and The Delaware Bay Company. He earned an MBA from the Stern School of Business at New York University and received a B.A. from Duke University.

Chris Walsh

Portfolio Analyst

Chris Walsh

Chris Walsh is a portfolio analyst for the Shelton Tactical Credit Fund and the Firm’s fixed income separately managed accounts. Chris has over six years of experience analyzing credit and equity markets. He earned a B.A. from Villanova University.

Important Information

It is possible to lose money by investing in the Fund. Past performance does not guarantee future results. Fund information is not intended to represent future portfolio composition. Portfolio holdings are subject to change and should not be considered a recommendation to buy individual securities.

The Fund invests without restriction as to issuer capitalization, country, credit quality and without restriction as to the maturity of fixed income securities. The Fund generally will take long positions in securities believed to be undervalued and short positions in securities believed to be overvalued. The Fund typically employs derivatives for hedging purposes, such as futures contracts, options, credit-default swaps, and total return swaps.

The risk for loss on short selling is greater than the original value of the securities sold short, and theoretically is unlimited, because the price of the borrowed security may rise, thereby increasing the price at which the security must be purchased. Although the Fund intends to use derivatives to reduce risk, they may have the opposite effect and increase the volatility or magnitude of loss by the Fund. Derivatives may be illiquid and subject to the risk of default by a counter-party. The value of the Fund’s investments in fixed income securities will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of fixed income securities. The Fund may invest in non-investment grade fixed income securities, sometimes known as “high-yield bonds” or “junk bonds,” which may subject the Fund to greater credit risk, price volatility and risk of loss than investment grade securities. Some of the “junk bonds” may include securities issued by distressed companies experiencing acquisition, merger, spinoff, restructuring, bankruptcy, downgrade, delinquency, default, or relatively poor financial performance. Distressed securities are speculative and involve substantial risks in addition to the risks of investing in junk bonds, including potential loss of the Fund’s entire investment.

Available Sites

For Financial Professionals

The information contained in this section of Shelton Capital Management’s website is intended for use by Institutional Investors in the United States only. It is not intended for use by non-U.S. entities or retail investors. "Institutional Investor" means any:

  • person described in FINRA Rule 4512(c), regardless of whether that person has an account with a FINRA member, includes;
  • a bank, savings and loan association, insurance company or registered investment company;
  • an investment adviser registered either with the SEC under Section 203 of the Investment Advisers Act or with a state securities commission (or any agency or office performing like functions) or;
  • any other person (whether a natural person, corporation, partnership, trust or otherwise) with total assets of at least $50 million;
  • governmental entity or subdivision thereof; employee benefit plan that meets the requirements of Section 403(b) or Section 457 of the Internal Revenue Code and has at least 100 participants, but does not include any participant of such a plan;
  • qualified plan, as defined in Section 3(a)(12)(C) of the Act, that has at least 100 participants, but does not include any participant of such a plan; FINRA member or registered associated person of such a member; and, person acting solely on behalf of any institutional investor.

By closing this window and entering the website, you expressly acknowledge that you have checked and confirmed that you are accessing this site from the United States for purposes of acquiring information as an Institutional Investor as defined above.

For Institutions and Consultants

The information contained in this section of Shelton Capital Management’s website is intended for use by Institutional Investors in the United States only. It is not intended for use by non-U.S. entities or retail investors. "Institutional Investor" means any:

  • person described in FINRA Rule 4512(c), regardless of whether that person has an account with a FINRA member, includes;
  • a bank, savings and loan association, insurance company or registered investment company;
  • an investment adviser registered either with the SEC under Section 203 of the Investment Advisers Act or with a state securities commission (or any agency or office performing like functions) or;
  • any other person (whether a natural person, corporation, partnership, trust or otherwise) with total assets of at least $50 million;
  • governmental entity or subdivision thereof; employee benefit plan that meets the requirements of Section 403(b) or Section 457 of the Internal Revenue Code and has at least 100 participants, but does not include any participant of such a plan;
  • qualified plan, as defined in Section 3(a)(12)(C) of the Act, that has at least 100 participants, but does not include any participant of such a plan; FINRA member or registered associated person of such a member; and, person acting solely on behalf of any institutional investor.

By closing this window and entering the website, you expressly acknowledge that you have checked and confirmed that you are accessing this site from the United States for purposes of acquiring information as an Institutional Investor as defined above.

Important Terms And Conditions

The information contained in this section of Shelton Capital Management’s website is intended for use by individual investors in the United States only. It is not intended for use by any person or entity in any jurisdiction where such use would be contrary to applicable law or regulation. For purposes of this section, an "individual investor" means a retail investor. Under Shelton Capital Management’s retail/institutional guidance, retail investors include prospective investors who invest in Shelton funds directly and all current fund shareholders. Under FINRA’s retail communication framework, a retail investor includes any person other than an institutional investor, regardless of whether that person maintains an account with the firm.

By accessing this website you acknowledge and represent that:

  • you are located in the United States;
  • you are accessing this website for purposes of obtaining information as an individual investor as defined above; and
  • you are permitted under applicable laws and regulations to access the information contained herein.

Before investing, investors should carefully consider the investment objectives, risks, charges, and expenses of any fund. This and other important information can be found in the prospectus and summary prospectus, which should be read carefully before investing. To obtain a prospectus, visit sheltoncap.com/literature, or call (800) 955-9988.

All investments involve risk, including possible loss of principal. Past performance does not guarantee future results. Shelton Funds are distributed by RFS Partners, a member of FINRA and affiliate of Shelton Capital Management. Investments are not FDIC insured, are not bank guaranteed, and may lose value.

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