Michael Krushena Email & Phone Number

Birmingham, Mi, Us

Bloomfield Hills, Mi

Part of the leadership group overseeing a team of 10 investment professionals with approximately $8 billion in fixed income assets under management. Play a lead role in determining overall investment strategy decisions across all fixed income product lines, new business presentations and new product development.Acted as the primary decision-maker on the multi-sector Boyd Watterson Limited Duration Enhanced Income Mutual Fund (BWDTX) since 2018. Responsible for the selection and trading of the specific securities held in the Fund, for credit research on multiple industries and for full control of all structured product research and trading. As of June 30, 2024, the fund had Morningstar Ratings of Five stars (out of Five) on a Three-Year and Five-Year basis and Four Stars on a One-Year basis. Performed in depth credit research on 6 industries with a particular focus on high yield companies. Cover over 70 individual companies and make credit recommendations for the mutual fund as well as investment grade and high yield companies held across the fixed income platform. Over the last year, name specific recommendations and holdings have outperformed the general corporate bond market on an upgrade to downgrade ratio by more than 3:1. Served as Head of Securitized Products, responsible for research, continuing surveillance and security recommendations across traditional asset backed sectors such as automobile and credit card securitizations. Additionally introduced Collateralized Loan Obligations (CLOs) as a new investment area to Boyd Watterson. Built out CLO manager research, developed a proprietary CLO Manager Stratification Model and grew the CLO portfolio to more than $270 million from $0. Also played a key role in research and development of the Boyd Watterson Tactical CLO Fund launched in 2024.

Michigan

Freight Audit Services was a Third Party Logistics provider to small and middle market companies. My work with this company was in addition to my other professional roles.Partnered with three individuals to start-up and fund this transportation industry entity while working at Munder Capital. Not involved in day-to-day operations initially but assumed the Chief Administrative Officer role in 2015. In that capacity was responsible for maintaining corporate financial oversight, including banking and tax filings, and oversaw the implementation of a new customer relationship management service. Worked to optimize the sales process and participated in all aspects of the sales process. Took the company from minimal start-up revenue to nearly $1million annually. FAS ceased operations in 2020 as a result of the pandemic.

Detroit, Mi

Part of a team of three responsible for the investment oversight of two defined benefit pension plans aggregating to approximately $5 billion. Responsibilities included investment policy formulation, developing and implementing asset allocation decisions and evaluating external investment manager performance. During my tenure the retirement plan performances ranked in the Top Third of the Defined Benefit Pension Plan universe per consultant reporting. Actively involved in external investment manager selection and due diligence across equity, fixed income and alternative asset classes. Specifically responsible for the evaluation, selection and recommendation of an external CLO Alternative Investment Strategy. The recommendation was approved by the Plan’s Investment Committee and $50 million was allocated. Performance of the CLO strategy during my tenure exceeded 12% annualized returns. Worked directly with external auditors to address investment-related portions of the annual audit. Identified and implemented best practices to address fiduciary responsibilities and departmental efficiency.

Detroit, Mi

Due to contractual non-compete restrictions with Munder Capital, initially joined Ambassador Capital in a client service capacity until the expiration of a non-compete agreement in April, 2013. Ambassador Capital ceased operations in October, 2014 as a result of pre-existing litigation. Upon expiration of the non-compete, became Senior Portfolio Manager and one of the five-member investment team, with direct responsibility for all corporate bond and asset-backed security credit research and trading along with primary portfolio management responsibility for the Core Plus composite. The Core Plus composite exceeded its benchmark over my seventeen-month tenure. Created a quantitative high yield security selection model with back-tested results of 0.43% annual alpha over investment grade corporate securities and an Information Ratio of 0.76. Also created investment models used as inputs for determining overall credit sector exposure and potential leveraged-buyout candidates.

Birmingham, Mi

Resigned from Munder Capital as an equity holder in the firm and was therefore subject to a one-year non-compete and two-year non-solicitation agreement.Maintained portfolio management and client servicing responsibility for client portfolios with aggregate AUM in excess of $1 billion. Directly managed client fixed income portfolios and maintained oversight of non-fixed income allocations and third-party investment manager performance. Made specific third-party investment manager recommendations. Among other business development accomplishments, pioneered the concept of the Munder TALF Fund and acted as a fundraiser and the primary portfolio manager of the TALF Fund. Served as a key member of the Fixed Income Corporate Credit Team determining corporate sector exposures and individual company holdings. Provided specific credit analysis and investment recommendations for multiple sectors of the corporate bond market; both high yield and investment grade. Led Munder's initiative into high yield investing, selecting the firm's first investments in that market sector. Responsible for all fixed income asset-backed holdings; including sector and security recommendations, initial due diligence and ongoing surveillance. Led Munder's initiative into non-AAA rated asset backed securities and CLO's. Grew the AUM in the asset-backed space to over $500 million and championed the sector to gain meaningful representation in all of the fixed income strategies. Member of the Fixed Income Trading Desk responsible for trading corporate bonds and asset-backed securities. Determined security specific relative valuations and executed trades in these sectors across all client portfolios. Managed the Munder Bond Fund from 2003 until my resignation in 2012.

Chicago, Il

Drove the marketing of asset-backed solutions to the insurance industry. Structured asset-backed transactions in the automobile and collateralized debt obligation sectors.Structured collateralized debt obligations that employed high grade and high yield corporate bonds as collateral. Worked with the rating agencies to secure structural approval. Collaborated with legal counsel to negotiate CDO terms directly with the client.

Master Of Business Administration (M.B.A.), Finance

Bachelor Of Arts (B.A.), Economics

Education record