For Institutional Investors in the US

Long Duration

A strategy designed to help pensions hedge liabilities that seeks to generate excess return through fundamental, bottom-up credit selection

Overview

ABOUT THIS STRATEGY

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

Potential Pension Liability Hedge
The portfolio managers' expertise in corporate credit selection may be beneficial for avoiding credit downgrades and improving funded status.

Customized Solutions
The portfolio managers partner with clients to create customized solutions designed to meet individual plan needs.

Duration and Credit Risk Management
Quantum Global, our proprietary fixed income portfolio and riskmanagement 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.

Featured Insight

Fixed Income Perspectives

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

Read More

PORTFOLIO MANAGEMENT

Michael Keough

Michael Keough

Portfolio Manager

Industry since 2006. Joined Firm in 2007.

Brad Smith

Brad Smith

Portfolio Manager

Industry since 2010. Joined Firm in 2010.

Performance

RETURNS (%) (As of 12/31/2022)
Composite Gross Composite Net Bloomberg Long Government/Credit Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/01/2011)
Composite Gross 1.99 -28.28 -28.28 -5.73 -0.96 1.96 3.38
Composite Net 1.92 -28.48 -28.48 -5.99 -1.23 1.68 3.11
Bloomberg Long Government/Credit Index 2.61 -27.09 -27.09 -6.20 -1.21 1.57 4.70
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 unless otherwise stated. Composite returns are net of transaction costs and gross of non-reclaimable withholding taxes (if any and unless otherwise noted), and reflect the reinvestment of dividends and other earnings.
The gross performance results presented do not reflect the deduction of investment advisory fees. Returns will be reduced by such advisory fees and other expenses as described in the individual contract and, where applicable, 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 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 and may be higher or lower than model fees. Returns for each client will be reduced by such fees and expenses as described in the individual contract and, where applicable, in Form ADV Part 2A.
For a complete list of holdings as of the most recently available disclosure period, contact us.
RETURNS (%) (As of 02/28/2023)
Composite Gross Composite Net Bloomberg Long Government/Credit Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/01/2011)
Composite Gross 0.62 2.14 -20.62 -7.99 0.56 2.34 3.52
Composite Net 0.56 2.10 -20.83 -8.24 0.29 2.07 3.25
Bloomberg Long Government/Credit Index -0.10 1.30 -20.31 -8.59 0.09 1.87 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 unless otherwise stated. Composite returns are net of transaction costs and gross of non-reclaimable withholding taxes (if any and unless otherwise noted), and reflect the reinvestment of dividends and other earnings.
The gross performance results presented do not reflect the deduction of investment advisory fees. Returns will be reduced by such advisory fees and other expenses as described in the individual contract and, where applicable, 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 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 and may be higher or lower than model fees. Returns for each client will be reduced by such fees and expenses as described in the individual contract and, where applicable, in Form ADV Part 2A.
For a complete list of holdings as of the most recently available disclosure period, contact us.

Documents

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