Fixed Income

SUPERIOR PERFORMANCE WITH LOWER RISK

We look to add value to our client’s fixed income portfolios in a risk controlled manner. We focus on investing in only in the highest quality securities and market sectors.

Within this high quality universe of bonds, we emphasize investments that offer the greatest potential income streams. This higher level of coupon income is a very reliable component of overall portfolio returns. However, given the unpredictable nature of bond prices, we control the level of interest rate risk relative to a portfolio’s benchmark, as we have learned that it is extremely difficult to consistently forecast the market’s direction and associated price movements. As our long-term results reflect, the ultimate objective is to generate better-than-market returns with below-market risk exposures.

Other hallmarks of our approach include:

  • Active management. Our Portfolio Managers work diligently to find trading opportunities to improve client portfolios.
  • Credit quality. This is at the forefront of our Portfolio Managers’ decision-making, as capital preservation is elemental to client objectives.  
  • Liquidity. As recent markets have highlighted, liquidity at both the security and portfolio levels is an important consideration, and we factor it into all purchase evaluations.
  • Relative value. With quality and liquidity as prerequisites, allocations are made to securities and sectors that offer the best relative value. 
 
In total, we weigh the risks inherent in each situation against a bond’s expected return.  Every buy and sell decision is meaningful, as the primary way that our Portfolio Managers add value to client portfolios is through individual security selection while ensuring portfolios are constructed to achieve the proper levels of diversification.
 
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SUPERIOR PERFORMANCE WITH LOWER RISK