A total return strategy that uses a multi-sector approach with a higher quality posture through the use of Treasury, Agency, and Corporate Credit securities, both Investment Grade and Below, with 1-10 year maturities.
Seeks to generate more income than pure investment grade, while preserving principle, by adding selective high yield bond exposure:
- Greater performance than pure investment grade portfolios
- Lower performance volatility than pure high yield portfolios
Our dynamic process balances top-down macro considerations and fundamental bottom-up analysis through all steps of the investment process:
- Sector allocation
- Security selection
- Yield curve management
Portfolios tend to be positioned in the higher quality tier of the market
- Investment grade component:
- Multi-sector approach largely through the use of treasuries, agencies and corporate credit securities of 1-10 year maturities
- High yield component:
- Emphasizes rigorous fundamental research and bottom-up security selection
- Varies between 40% and 50%
- A seasoned team of 100+ fixed income professionals influencing investment theme and model portfolio development
- Top-down macro themes shape overall strategy and provide context for our bottom-up security selection
- Balanced emphasis on quantitative and qualitative inputs fosters strong checks and balances and validation for our investment themes
- Proprietary risk budgeting and management tools guide portfolio construction
- Competitive performance over time and within each component of the portfolio
**There is no guarantee that this objective will be achieved.
Past performance does not guarantee future results. There is no guarantee that any forecasts or opinions in this material will be realized. Manager commentary is for informational purposes only and does not constitute investment advice and is not a recommendation to purchase or sell any of the securities referenced.