US High Yield

Driven by a fundamentally based investment process, the strategy seeks to temper the downside risks associated with the high-yield asset class over a full market cycle

Overview

ABOUT THIS STRATEGY

We believe a bottom-up, fundamentally driven investment process that is focused on free cash flow and confirming management intentions to transform and improve balance sheets can generate risk-adjusted outperformance over time. Through our comprehensive global research process and dynamic approach to managing through the credit cycle, we seek to deliver a less-volatile client experience within the high-yield asset class over full market cycles.

INVESTMENT APPROACH

High Conviction
We believe a high conviction approach is essential to unlocking competitive excess returns and monitoring high-yield risk for our clients. We are focused on taking the appropriate amount of risk throughout the credit cycle by actively managing market exposure and portfolio composition.

Research Driven
Our analysts cover issuers across the credit quality spectrum and capital structure, enabling a complete picture of fundamental credit risk. Analysts function as sector experts and risk managers alongside portfolio managers to identify potential outperformers.

Global Resources
This U.S. strategy benefits from our team of global credit experts. Instead of separate teams, we operate as one team globally looking at companies.

Featured Insight

Fixed Income Perspectives

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

PORTFOLIO MANAGEMENT

Seth Meyer, CFA

Portfolio Manager

Industry since 1998. Joined Firm in 2004.

Brent Olson

Portfolio Manager | Credit Analyst

Industry since 1997. Joined Firm in 2017.

Performance

RETURNS (%) (As of 06/30/2020)
Composite Gross Composite Net Bloomberg Barclays U.S. Corporate High Yield Bond Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(01/01/1996)
Composite Gross 10.04 -5.48 -0.76 3.37 4.60 6.76 7.82
Composite Net 9.87 -5.79 -1.41 2.71 3.91 6.15 7.15
Bloomberg Barclays U.S. Corporate High Yield Bond Index 10.18 -3.80 0.03 3.33 4.79 6.68 6.80
RETURNS (%) (As of 06/30/2020)
Composite Gross Composite Net Bloomberg Barclays U.S. Corporate High Yield Bond Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(01/01/1996)
Composite Gross 10.04 -5.48 -0.76 3.37 4.60 6.76 7.82
Composite Net 9.87 -5.79 -1.41 2.71 3.91 6.15 7.15
Bloomberg Barclays U.S. Corporate High Yield Bond Index 10.18 -3.80 0.03 3.33 4.79 6.68 6.80

Documents

TOP