MPHLX

About MPHLX

MassMutual High Yield Fund Administrative Class is an actively managed mutual fund focused on the U.S. below‑investment‑grade bond market. Its primary objective is to deliver a high level of total return with an emphasis on current income by investing predominantly in high yield corporate debt and related securities. The portfolio centers on lower‑rated issuers and may include securities that are unrated or, in some cases, in default, reflecting its mandate to allocate the majority of assets to high‑income debt instruments. The strategy targets credit opportunities across industries, aiming to capture elevated coupon income while managing credit selection and sector exposure typical of the speculative‑grade space. In the broader market, the fund serves as a dedicated high yield allocation, providing access to the credit cycle, spread dynamics, and issuer‑specific catalysts that drive returns in non‑investment‑grade bonds. Its role complements core fixed income by potentially enhancing portfolio income and diversifying interest‑rate sensitivity through greater exposure to credit risk, consistent with the characteristics of the U.S. high yield market.