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Full Discretion Fixed Income Strategy

The strategy seeks to outperform the Bloomberg Barclays U.S. Aggregate over a full market cycle by covering the global fixed income universe while tactically adjusting risk exposure within a relative value framework.

  • 10+ year track record with a focus on consistent returns and downside protection
  • Disciplined and repeatable process that balances risk allocation, sector allocation, and security selection
  • Supported by a team of more than 30 investment professionals
  • Active management of risk through the use of propriety risk and portfolio management metrics
Core Plus Fixed Income
STYLE
Bloomberg Barclays U.S. Aggregate
BENCHMARK
Oct. 1, 2007
INCEPTION

Philosophy

We believe that in order to consistently generate attractive risk-adjusted long-term outperformance, we need to:

  • Adjust risk through the cycle
  • Efficiently allocate risk on a relative value basis with an emphasis on downside protection
  • Drive security selection decisions down to analyst level – “Sector PMs”
  • Avoid outsized positions in rates

Portfolio Construction

  • Investment universe includes U.S. Government, agencies, asset-backed securities, mortgage-backed securities, investment grade credit, high yield credit, emerging markets debt, non-USD, and preferred stock
  • Maximum of 5% in any one issuer (excluding US government issued securities) 
  • Maximum of 30% in non-investment grade security exposure
  • Maximum of 20% in emerging markets exposure

Strategy Facts

As of 9/30/2019
Assets Under Management $1.3 billion
eVestment Universe U.S. Core Plus Fixed Income
Investment Vehicles Separate Account
Mutual Fund
Collective Investment Trust
Also offered as a private fund

Management

Timothy Policinski

Timothy J. Policinski, CFA

Managing Director, Senior Portfolio Manager

Career Summary
Lincoln National

Education 
BS - Indiana University
MSBA - Indiana University

Meet Timothy Policinski
Daniel Carter

Daniel J. Carter, CFA

Vice President, Senior Portfolio Manager

Career Summary
Ohio Casualty Group
Provident Financial Group

Education 
BS - Miami University

Meet Daniel Carter

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