Fixed Income

FIXED INCOME

We aim to generate consistent outperformance by systematically applying investment themes across securities. We believe that a multi-factor

investment approach, harnessing underlying drivers of performance, will generate excess returns that are uncorrelated to other asset classes as well as traditional fixed income managers.

WHY TRADE STOCKS?

Stocks let you own a piece of a company’s future. They’re available for a wide variety of industries—so you can tap into your knowledge of specific businesses, or help you to diversify your portfolio.

EMERGING MARKETS HARD CURRENCY

Seeks excess returns through country, maturity, and currency selection across hard currency and local currency markets. While the strategy includes local currency investments, it takes no beta to local currency debt, engages in no overall duration or spread timing, and targets a beta of one to its hard currency benchmark.

Global Aggregate

Seeks excess returns through country, maturity, credit, and currency selection. The strategy targets the credit and duration profile of the benchmark and so does not seek to engage in duration timing or sector selection.

Global Governments

This strategy seeks excess returns through country, maturity, and currency selection. It engages in minimal duration timing.

High Yield Corporates

Investment themes in this strategy are primarily expressed by within-industry security selection. It does not seek to engage in duration or credit timing.

INVESTMENT GRADE CORPORATES

Seeks to outperform a core or long duration corporate benchmark. Our investment themes are primarily expressed by within-industry security selection. The strategy does not seek to engage in duration or credit timing.

UNCONSTRAINED BONDS

A cash-benchmarked bond strategy that seeks to deliver positive absolute returns with low correlation to traditional market betas. The strategy primarily utilizes a broad suite of relative value fixed income sub-strategies spanning interest rates, credit, and foreign exchange markets. It also includes a small, dynamic, and diversified allocation to fixed income market risks such as duration, credit, and securitized exposures.

CORE PLUS

Strategy that seeks excess returns through country, maturity, credit, and currency selection. Out-of-benchmark sectors are strictly used to increase security selection breadth, while still targeting the credit and duration profile of the benchmark, and so does not seek to engage in duration timing or sector selection.