Fixed Income Objectives & Philosophy
OUR FIXED INCOME OBJECTIVES ARE FOCUSED ON:
Our investment philosophy stems from our belief that attractive risk-adjusted returns over a market cycle are most consistently earned by taking a top-down investment approach and employing moderate levels of risk.
We believe that macroeconomic trends are the primary drivers of fixed income alpha. We develop active strategies based on our macroeconomic forecasts, which focus on economic growth, inflation expectations, and monetary policy. As a macro firm, we invest with a collective wisdom borne from decades of experience and market observation.
We believe that having multiple sources of excess return leads to more consistent opportunities to outperform throughout evolving market conditions. We sttrive to generate excess return, or alpha, through four drivers—duration management, yield curve positioning, sector allocation, and security selection.
Our portfolios generally have an income advantage and are designed to provide a level of downside protection in difficult markets.