Fixed Income

We believe that value opportunities can be captured by identifying temporary market anomalies ahead of consensus. We have developed a disciplined process to identify securities and sectors that are priced at a discount to their intrinsic value. By capturing enormous amounts of security level data and applying rigorous analytics, we are able to transform this data into meaningful information.

• Our focus on creating an information advantage allows us to emphasize areas where we can gain a skill advantage. Portfolios are built one bond at a time with a critical review of each security by experienced managers. We focus on being consistently right on many small decisions and avoid allocating significant risk to big decisions
  
• Successful risk management looks beyond the benchmark comparison and allocates risk in the portfolio in a manner that is transparent, intentional and consistent with strategy. We constantly evaluate whether we are being sufficiently compensated by the market for our active risks
  
• We will frequently take advantage of sector rotation, issue selection, and relative value swaps and rarely make major strategy moves in our interest rate and yield curve view
  
• We offer specialty fixed income strategies, including senior loans, liability-driven investing, stable value, high yield, mortgage-backed securities and emerging markets debt, believing that the information advantage we bring to these asset classes can generate excess returns