We aim to generate consistent outperformance by systematically applying investment themes across securities. We believe that a multi-factor investment approach, harnessing underlying drivers of performance, will generate excess returns that are uncorrelated to other asset classes as well as traditional fixed income managers.
Emerging Markets Hard Currency
Seeks excess returns through country, maturity, and currency selection across hard currency and local currency markets. While the strategy includes local currency investments, it takes no beta to local currency debt, engages in no overall duration or spread timing, and targets a beta of one to its hard currency benchmark.
Seeks excess returns through country, maturity, credit, and currency selection. The strategy targets the credit and duration profile of the benchmark and so does not seek to engage in duration timing or sector selection.
This strategy seeks excess returns through country, maturity, and currency selection. It engages in minimal duration timing.
High Yield Corporates
Investment themes in this strategy are primarily expressed by within-industry security selection. It does not seek to engage in duration or credit timing.
INVESTMENT GRADE CORPORATES
Seeks to outperform a core or long duration corporate benchmark. Our investment themes are primarily expressed by within-industry security selection. The strategy does not seek to engage in duration or credit timing.
A cash-benchmarked bond strategy that seeks to deliver positive absolute returns with low correlation to traditional market betas. The strategy primarily utilizes a broad suite of relative value fixed income sub-strategies spanning interest rates, credit, and foreign exchange markets. It also includes a small, dynamic, and diversified allocation to fixed income market risks such as duration, credit, and securitized exposures.
Strategy that seeks excess returns through country, maturity, credit, and currency selection. Out-of-benchmark sectors are strictly used to increase security selection breadth, while still targeting the credit and duration profile of the benchmark, and so does not seek to engage in duration timing or sector selection.
TYPES OF FIXED INCOME FUNDS
There are a number of different types of income-producing funds, each with its own characteristics and
level of risk.
These funds typically invest in bonds issued by sovereign governments and government agencies authorized to issue debt, such as Fannie Mae and Freddie Mac, and international agencies, such as the World Bank and International Monetary Fund.
Municipal bonds are issued by state and local governments in the U.S. in addition to other public authorities, such as school districts. Generally speaking, interest on municipal bonds is exempt from federal income taxes. In some states, interest on bonds issued by that state and the municipalities within it are also exempt from that state’s income taxes.
These funds typically invest in bonds, preferred stocks, and other types of fixed-income instruments representing debt issued by private corporations. Corporate bonds tend to be more risky than bonds issued by governments and carry various credit risks depending on the individual issuer. As a result, however, they may offer potentially higher income opportunities.
These funds typically invest in a variety of fixed-income instruments, including a mix of government and corporate bonds. This provides investors with an additional level of diversification across both credit risk and price.
Asset-backed securities are collateralized by loans that provide an income stream comprised of both principal and interest on the securities. Loans backing these securities include residential and commercial mortgages, automobile loans, credit cards, and other types of financial assets.
These represent participation in loans to private corporations underwritten by commercial banks, including first lien, second lien, and collateralized loan obligations. Bank loans tend to be more risky than corporate bonds but, as a result, can potentially offer higher interest rates.
These funds typically invest in money market instruments and forward currency contracts denominated in the currencies of foreign countries. In addition to carrying credit risk, these funds carry currency fluctuation risk.
EMPHASIZE INDEPENDENT RESEARCH
We focus on sectors where we believe our independent research offers the greatest opportunities to add value for our clients.
UTILIZE MULTIPLE RESEARCH PERSPECTIVES
We believe fixed income portfolios can best be managed by integrating three perspectives: top-down macro analysis, bottom-up sector analysis and quantitative insights to guide strategy allocations.
COMMIT TO THE LONG TERM
We take a long-term view for all we do, from the people we hire, to the markets we enter, to the solutions we offer and to the investment decisions we make.
We believe global fixed income markets are inefficient. In our view, the best way to seek to exploit these inefficiencies is through a sector-by-sector research-oriented approach, which is integrated globally. We offer investors a wide range of strategies covering benchmark-aware and unconstrained to tailor portfolios that seek to meet a diverse set of client needs
Manage Risk and Hedge against Loss with Fixed Products
Fixed income investments offer long-term stability while generating higher returns than a traditional savings account. This makes them ideal for retirement accounts, short-term savings and as a diversification tool in any portfolio.
Why Fixed Products?Fixed income investment products are an important part of many portfolios. Their opportunities for use are diverse and can help investors by:
- Acting as a hedge against market volatility and downside risk. Creating a low-risk safe haven for those investors with a low tolerance for risk.
- Providing a method of portfolio diversification.
- Allowing for a guaranteed return for short-term savings.
- Delivering a means to preserve retirement assets once an investor reaches retirement age.