Easterly Asset Management Launches Easterly ROC Municipals

Easterly Asset Management (“Easterly”), home to investment teams that provide private wealth and institutional investors with a portfolio of solutions across alternatives, active equity and active fixed income, today announced the launch of Easterly ROC Municipals, a municipal bond investment team that seeks to deliver tax-aware, yield-driven total returns for investors.

The Easterly ROC Municipals team, formerly of OppenheimerFunds Rochester¹, is managed by Troy Willis, JD, CFA, Co-Head Municipals, Senior Portfolio Manager and former Co-Head of the OppenheimerFunds Rochester Municipal Bond team, and Charlie Pulire, CFA, Co-Head Municipals, Senior Portfolio Manager. In addition, the team is supported by veteran credit analysts formerly of OppenheimerFunds Rochester, Rich Stein and Rene Vecka.

“We are pleased to officially welcome Troy, Charlie and team to Easterly,” said Darrell Crate, Founder and Managing Principal of Easterly. “Troy and Charlie are results-driven investors with established track records and their addition to our lineup expands access to attractive yield-driven, tax-aware solutions for our private wealth and institutional clients.”

Easterly agreed to acquire the PSP High Income Municipal Bond Mutual Fund and PSP Short Term Municipal Fund from Principal Street Partners in April 2024. This launch marks the final close of the transaction.

Today, the funds are available on Easterly’s fund platform as Easterly ROCMuni High Income Municipal Bond Fund (RMHIX) and Easterly ROCMuni Short Term Municipal Bond Fund (RMSIX).

The Easterly ROC Municipal Bond Funds seek to provide long-term, yield-driven total return and utilize an intensive bottom-up credit analysis process, focused on strategies that add value.

The Easterly ROCMuni High Income Municipal Bond Fund’s primary investment objective is to provide current income exempt from regular federal income tax and to seek total return. The Easterly ROCMuni Short Term Municipal Bond Fund‘s primary objective is to provide current income exempt from regular federal income tax. The two strategies work to diversify a fixed-income portfolio across credits, geographies and overlooked and under-valued sectors of the municipal bond market. ⁽¹⁾

“Our emphasis on uncovering inefficiencies and capitalizing on under-appreciated sectors of the municipal bond market is a key differentiator for our high-income and short-term strategies,” said Willis. “We look forward to putting these strategies and our decades of muni bond experience to work for investors now as Easterly ROC Municipals.”

¹ Acquired by Invesco in 2019.

ABOUT EASTERLY

Easterly Asset Management and its Strategic Partners provide private wealth and institutional investors with a portfolio of solutions across alternatives, active equity and active fixed income. Founded in 2019, Easterly’s goal is to bring curated solutions to clients that make their portfolios better by partnering with trusted investment teams who have an established track record of delivering value to investors. Easterly enables high-performing managers to operate at scale by delivering best-in-class resources, risk management, operational support, infrastructure and an institutional and wealth distribution team. As of June 30, 2024, Easterly and its Strategic Partners manage approximately $60B of client assets. For more information, visit easterlyam.com.

(1) Diversification does not guarantee a profit nor protect against loss in any market.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund. This and other important information about the Fund is contained in the prospectus which should be read carefully before investing, and can be obtained by visiting funds.easterlyam.com or by calling 888-814-8180.

Easterly Investment Partners LLC is the investment adviser to the Easterly family of mutual funds. Easterly Investments Partners LLC is an SEC registered investment adviser; see Form ADV at www.sec.gov. Registration does not imply and should not be interpreted to imply any particular level of skill or expertise.

The Easterly funds are distributed by Easterly Securities LLC, member FINRA/SIPC. Easterly Investment Partners and Easterly EAB Risk Solutions are affiliates of Easterly Securities LLC. Orange Investment Advisers, LLC, Ranger Global Advisers, LLC and EAB Investment Group are not affiliated with Easterly Securities LLC.

Not FDIC Insured–No Bank Guarantee–May Lose Value

IMPORTANT FUND RISK INFORMATION

Mutual Fund investing involves risk. Principal loss is possible. Variable and floating rate securities provide for a periodic adjustment in the interest rate paid on the obligations. Fixed-income securities are or may be subject to interest rate, credit, liquidity, prepayment and extension risks. Interest rates may go up resulting in a decrease in the value of the fixed-income securities held by the Fund. High-yield fixed income securities or “junk bonds” are fixed-income securities held by the Fund that are rated below investment grade are subject to additional risk factors such as increased possibility of default, illiquidity of the security, and changes in value based on public perception of the issuer. The municipal market is volatile and can be significantly affected by adverse tax, legislative or political changes and the financial condition of the issuers of municipal securities. The Fund has limited operating history and there can be no assurance that the Fund will grow to or maintain an economically viable size.

Past performance does not guarantee future results.

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