SOURCE: The TCW Group, Inc.

The TCW Group, Inc.

August 23, 2010 18:03 ET

MetWest High Yield Bond Fund Reaches $1 Billion in Assets

LOS ANGELES, CA--(Marketwire - August 23, 2010) -  The TCW Group, Inc. ("TCW"), an international asset-management firm, today announced that its MetWest High Yield Bond Fund (MWHIX/MWHYX) has reached $1 billion in assets under management for the first time.

The MetWest High Yield Bond Fund has experienced significant asset growth over the past 18 months. Growth has been driven by a combination of solid returns and increasing industry recognition. The Fund's portfolio management team of Jamie Farnham, Gino Nucci, Laird Landmann and Steve Kane was nominated for Morningstar Fixed Income Manager of the Year in 2009.* Positive inflows have continued since the acquisition of MetWest by TCW earlier this year. 

"This is an important milestone for the Fund," said Jamie Farnham, Portfolio Manager of the Fund and TCW's Director of U.S. Fixed Income Credit Research. "We owe the Fund's success to a disciplined focus on analyzing the asset value, cash flow, seniority and covenants of every credit in the portfolio, and to the rigorous research of our credit analysts."

"Reaching $1 billion in assets for a high yield fund speaks to the expertise of the MetWest portfolio management team across multiple fixed income asset classes and to the group's unique and successful team approach,'' said Marc I. Stern, Vice Chairman and Chief Executive Officer of The TCW Group.

The Fund has produced strong and consistent performance since its September 30, 2002 inception. Since inception, the Fund's returns place it in the top 5% of 343 high yield bond funds tracked by Morningstar during that time. The Fund's five-year returns rank in the top 3% of 428 funds tracked by Morningstar in the high yield category, and its three-year returns place it in the top 2% of 500 funds in the category. Its one-year returns place it in the top 48% of 568 funds in the category. (All rankings quoted are for MWHYX shares as of August 20, 2010 within Morningstar's US OE High Yield Bond category. Rankings are based on total return.)

"We are pleased at the growing recognition of the high-yield asset class and the confidence more and more investors have shown in the Fund," said Tad Rivelle, TCW's Chief Investment Officer for High-Grade Fixed Income. "Our relative value approach to fixed income investing is well suited to below-investment-grade securities. We will continue to seek to add value through fundamental credit research, tactical portfolio positioning and prudent risk management."

This is the second milestone for the MetWest fund group this month. On August 4, 2010 TCW announced that MetWest's largest mutual Fund, the MetWest Total Return Bond Fund (MWTRX/MWTIX), had crossed the $10 billion mark in assets under management. 

The MetWest High Yield Bond Fund invests across the below-investment-grade fixed income universe. The Fund seeks to optimize total return while having lower volatility than its benchmark by positioning the portfolio appropriately across all points of the credit cycle. Industry allocation and maturity distribution are determined through an integration of macroeconomic analysis and fundamental research of individual securities.

About TCW

Founded in 1971, The TCW Group, Inc., develops and manages a broad range of innovative, value-added investment products that strive to enhance and protect clients' wealth. The firm has approximately $110 billion in assets under management. TCW clients include many of the largest corporate and public pension plans, financial institutions, endowments and foundations in the U.S., as well as a substantial number of foreign investors and high net worth individuals. TCW is a subsidiary of Société Générale. For more information, please refer to www.tcw.com.

About MetWest

Founded in 1996, Metropolitan West Asset Management LLC (MetWest) is a wholly-owned subsidiary of TCW. Since its founding MetWest has delivered strong fixed income returns for its clients through a value-driven investment philosophy and a client-centered culture. MetWest's strategies, all of which are team-managed, have performed in the top quartile among comparable fixed income strategies, garnering four nominations for Morningstar's Fixed Income Manager of the Year and receiving this distinguished honor in 2005. TCW announced the acquisition of MetWest in December 2009 and completed the transaction in February 2010.

* The Morningstar Fund Manager of the Year award winners are chosen based on Morningstar's proprietary research and in-depth evaluation by its Fund analysts.

Past performance is no guarantee of future results.

Obtain a Prospectus

You should consider the investment objectives, risks, charges, and expenses of the Fund carefully before investing. The Fund's prospectus and summary prospectus contains this and other information about the Fund. You may download the prospectus from the Fund's website at www.mwamllc.com. Please read the prospectus carefully before you invest or send money.

A Word about Risk

Bond Funds have the same interest rate, high yield and credit risks associated with the underlying bonds in the portfolio, all of which could reduce the Fund's value. As interest rates rise, the value of the Fund can decline and an investor can lose principal.

The MetWest Funds are distributed by BNY Mellon Distributors Inc. which is not affiliated with TCW. The MetWest Funds are advised by Metropolitan West Asset Management, LLC, which is a wholly-owned subsidiary of The TCW Group, Inc.

Contact Information

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    Erin K. Freeman
    Managing Director, Corporate Communications
    (213) 244-0464
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