Investors in PPM America's Special Investments CBO I and II funds now can access portfolio information online.
"The bottom line was we had a good story to tell (our investors). How to tell it?? The answer came down to be the Internet," said Joel Klein, managing director at Chicago-based PPM Finance's Special Investments Group.
Via a passsword-protected area, clients can download information on capital structure, investment ratings, quarterly finance statements, portfolio performance reports, debt servicing reports and account information.
The funds, totalling $800 million, are invested collateralized bond obligations such as high-yield securities, bank loans and the debt and equity of financially troubled companies.
Clients still can receive quarterly information in the mail, but more web-savvy investors are eager to see the data on the Internet, according to PPM officials. Thirty-nine clients currently have direct web access to their account data.
The debt servicing reports are updated bimonthly on the web.