Absolute Return Income

A global fixed income strategy that targets moderate return and capital preservation

Overview

ABOUT THIS STRATEGY

The strategy's absolute return objective and broad global opportunity set grant the portfolio managers flexibility to express their investment insights that are not constrained by traditional fixed income benchmarks. This flexibility transcends the breadth of the global fixed income opportunity set to include structural alpha strategies. The investment process is decidedly top-down in approach. The portfolio managers formulate their secular and opportunistic views across different countries, currencies and sectors and translate those views into portfolio exposures - yield foundation and structural alpha strategies - that represent highest conviction ideas. Those are then implemented through cash or derivative instruments. This is a global fixed income strategy that targets moderate return and capital preservation.

INVESTMENT APPROACH

Experienced Investors
The investment team focuses on managing strategies with absolute return targets that seek to provide stable and consistent performance with a low tolerance for risk. The team has managed unconstrained, absolute return portfolios through marked periods of extreme volatility and stress.

Investment Flexibility Across a Global Opportunity Set
The strategy invests broadly across global fixed income markets and is not constrained by benchmark-specific guidelines. This latitude allows the team to fully express high-conviction active views and avoid areas where we see greater downside risk.

Uncorrelated Sources of Return
The strategy seeks to provide positive long-term returns through the combination of core fixed income securities and derivative-based structural alpha strategies. This allows access to sources of returns that are intended to be uncorrelated to traditional risk assets.

Featured Insight

Fixed Income Perspectives

Quarterly insight from our fixed income teams to help clients navigate the risks and opportunities ahead.

Featured Insight

December 2018 | Global Perspectives | Credit | Interest Rates

Redefining Core Fixed Income

Read why, in light of secular headwinds, investors should consider incorporating an absolute return mindset into bond strategies.

PORTFOLIO MANAGEMENT

Nick Maroutsos

Head of Global Bonds | Portfolio Manager

Industry since 1999. Joined Firm in 2015.

Daniel Siluk

Portfolio Manager

Industry since 2003. Joined Firm in 2015.

Jason England

Portfolio Manager

Industry since 1994. Joined Firm in 2017.

Performance

RETURNS (%) (As of 06/30/2020)
Composite Gross Composite Net FTSE 3-Month Treasury Bill Index
 
3M YTD 1YR 3YR Since Inception
(07/01/2016)
Composite Gross 2.33 1.03 2.67 3.12 2.90
Composite Net 2.23 0.83 2.26 2.71 2.49
FTSE 3-Month Treasury Bill Index 0.14 0.52 1.56 1.72 1.46
RETURNS (%) (As of 06/30/2020)
Composite Gross Composite Net FTSE 3-Month Treasury Bill Index
 
3M YTD 1YR 3YR Since Inception
(07/01/2016)
Composite Gross 2.33 1.03 2.67 3.12 2.90
Composite Net 2.23 0.83 2.26 2.71 2.49
FTSE 3-Month Treasury Bill Index 0.14 0.52 1.56 1.72 1.45

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