The strategy seeks to outperform the Bloomberg Barclays U.S. Credit Index through a relative value orientation which considers fundamental credit analysis as well as sector, quality, and yield curve placement.
10+ year track record that was born from the firm’s core competency—credit analysis
Explicit measures of risk and determinants of value utilized in both the investment and risk management processes
Top-down management of spreads coupled with fundamental analysis
Supported by a team of industry sector specialists averaging 21 years of experience
Investment Grade Corporate Credit
STYLE
Bloomberg Barclays U.S. Credit
BENCHMARK
Jan. 1, 2005
INCEPTION
Philosophy
The team believes that in order to generate consistent alpha, a fundamental analysis must be combined with:
Top-down management of spread risk using explicit measures of valuation and risk
Relative value framework with a focus on downside risk
Return profile assessment at the individual security level
Portfolio Construction
Invests primarily in investment grade bonds
Focus on sectors with strong commitment to investment grade ratings
Seek opportunities in rising star credits
Well diversified, average position size 1% to 1.5%
