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.
We aim to generate consistent out-performance 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.
Global Aggregate is an investment strategy that aims to generate consistent and diversified returns by investing in a broad range of fixed-income securities worldwide. This strategy seeks to capture opportunities across different sectors, countries, and credit qualities to build a well-balanced and globally diversified portfolio.
The Global Aggregate strategy focuses on investing in a variety of fixed-income instruments, including government bonds, corporate bonds, mortgage-backed securities, asset-backed securities, and other debt securities. By diversifying across multiple sectors, the strategy aims to reduce concentration risk and enhance overall portfolio stability.
Global Governments is an investment strategy that aims to generate above-average returns by carefully selecting countries, maturities, and currencies. The primary objective of this strategy is to identify opportunities in the global government bond market that have the potential to outperform the broader market.
To achieve its goals, the Global Governments strategy employs a meticulous process of country selection. This involves evaluating various factors such as economic indicators, political stability, fiscal policies, and regulatory frameworks of different nations. By conducting thorough research and analysis, the strategy seeks to identify countries with strong economic fundamentals and promising growth prospects.
High Yield Corporates is an investment strategy that focuses on generating higher returns by investing in lower-rated corporate bonds or debt securities. This strategy seeks to capture the potential for increased yields offered by companies with lower credit ratings, which are typically considered riskier than investment-grade bonds.
The High Yield Corporates strategy primarily invests in bonds issued by companies with below-investment-grade credit ratings, commonly referred to as "junk bonds." These bonds are issued by companies that may have a higher risk of default or financial distress. By investing in these securities, the strategy aims to benefit from the higher yields associated with compensating for the increased credit risk.
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.
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.
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.
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.
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.
Fixed income investment products are an important part of many portfolios. Their opportunities for use are diverse and can help investors by: