To build and maintain a portfolio that always represents the best relative value available in the expected economic and market environment. In addition, we look to add incremental return by taking advantage of market anomalies and opportunities. Our goal is to outperform the Barclays Capital Aggregate Index and to rank in the upper quartile in a universe of our peers.
We seek total rate of return through the active management of all structural components of the portfolio; sector and industry allocation, credit quality, liquidity, yield curve, maturity exposure, and call structure. Our primary focuses are sector and industry allocation, and issue selection. We excel at positioning the portfolio to prosper in the expected economic environment and in assessing credit risk in the context of relative value. Our Core Plus product also incorporates a dynamic allocation to the high yield (credit, MBS, and ABS) sector that provides incremental returns during periods of improving credit fundamentals.