Global Fixed Income Compass
Quarterly insight from our fixed income teams to help clients navigate the markets and opportunities ahead.
INVESTMENT STRATEGIES
Long Duration
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Overview
We believe a bottom-up, fundamentally driven investment process can generate risk-adjusted outperformance and capital preservation over time. Our comprehensive bottom-up view drives decision-making at a macro level, enabling us to make informed risk and sector allocation decisions.
Investment Approach
- The portfolio managers’ expertise in corporate credit selection may be beneficial for avoiding credit downgrades and improving funded status.
- The portfolio managers partner with clients to create customized solutions designed to meet individual plan needs.
- Quantum Global, our proprietary fixed income portfolio and risk-management system is integrated into every step of the investment process. Duration and other key sources of portfolio risk are measured and managed consistent with key LDI objectives.
Potential Pension Liability Hedge
Customized Solutions
Duration and Credit Risk Management
Working to be Consistently Good… Not Occasionally Great
LONG DURATION COMPOSITE OUTPERFORMED THE BLOOMBERG BARCLAYS LONG DURATION GOVERNMENT/CREDIT INDEX 58 OF 59 PERIODS, OR 98% OF THE TIME
ANNUALIZED MONTHLY ROLLING THREE-YEAR RETURNS *
* Gross excess returns based on Since Inception (9/1/11) time frame ending 6/30/19
Portfolio Management
Featured Insights
The Sacrifice for Simplicity
Learn about the deficiencies of current LDI implementation and how an adaptive LDI approach may help.
Thoughts and Bonds: The Beginning of the End
Our Fundamental Fixed Income team provides insights on potential investment risks and opportunities, and shares our global outlook for the quarter ahead.
Performance
RETURNS
| Inception: Sep 01, 2011 | 3M | YTD | 1YR | 3YR | 5YR | 10YR | Since Inception |
|---|---|---|---|---|---|---|---|
| Composite Gross | 6.99% | 20.93% | 22.34% | 5.86% | 7.18% | - | 7.29% |
| Composite Net | 6.92% | 20.69% | 22.01% | 5.58% | 6.89% | - | 7.00% |
| Bloomberg Barclays Long Government/Credit Index | 6.58% | 20.93% | 21.88% | 5.56% | 6.81% | 7.42% | 4.70% |
| Inception: Sep 01, 2011 | 3M | YTD | 1YR | 3YR | 5YR | 10YR | Since Inception |
|---|---|---|---|---|---|---|---|
| Composite Gross | 6.99% | 20.93% | 22.34% | 5.86% | 7.18% | - | 7.29% |
| Composite Net | 6.92% | 20.69% | 22.01% | 5.58% | 6.89% | - | 7.00% |
| Bloomberg Barclays Long Government/Credit Index | 6.58% | 20.93% | 21.88% | 5.56% | 6.81% | 7.42% | 4.96% |
Past performance cannot guarantee future results. Investing involves risk, including the possible loss of principal and fluctuation of value. Returns greater than one year are annualized. Returns are expressed in U.S. dollars. Composite returns are net of transaction costs and gross of non-reclaimable withholding taxes, if any, and reflect the reinvestment of dividends and other earnings.
The gross performance results presented do not reflect the deduction of investment advisory fees and returns will be reduced by such advisory fees and other contractual expenses as described in the individual contract and Form ADV Part 2A.
Net performance results do not reflect the deduction of investment advisory fees actually charged to the accounts in the composite but they do reflect the deduction of model investment advisory fees based on the maximum fee rate in effect for the respective time period, adjusted for performance-based fees where applicable. Actual advisory fees may vary among clients invested in the strategy shown and may be higher or lower than model advisory fees. Returns for each client will be reduced by such fees and expenses as negotiated in any client contract as discussed in Form ADV Part 2A.
For a complete list of holdings as of the most recently available disclosure period, contact us.
The gross performance results presented do not reflect the deduction of investment advisory fees and returns will be reduced by such advisory fees and other contractual expenses as described in the individual contract and Form ADV Part 2A.
Net performance results do not reflect the deduction of investment advisory fees actually charged to the accounts in the composite but they do reflect the deduction of model investment advisory fees based on the maximum fee rate in effect for the respective time period, adjusted for performance-based fees where applicable. Actual advisory fees may vary among clients invested in the strategy shown and may be higher or lower than model advisory fees. Returns for each client will be reduced by such fees and expenses as negotiated in any client contract as discussed in Form ADV Part 2A.
For a complete list of holdings as of the most recently available disclosure period, contact us.