Fixed income

U.S. Bank Loan Strategy

The strategy invests in leveraged loans across all quality segments. It seeks to generate alpha and returns with less volatility than the J.P. Morgan BB/B Loan Index through a disciplined, bottom-up approach to credit selection.

Products offered

Separate Account
- U.S. Bank Loan

Investment horizon

The team uses a six-month investment horizon to anticipate market inflection points.

Multiple levers

The team strategically allocates, by objective, to a variety of alpha sources through security selection, sector allocation, and duration and curve positioning.

Unbiased approach

The team seeks diversified and unbiased sources of alpha in an effort to generate compelling returns over a market cycle.

Investment approach

A consistent approach for thriving in inconsistent fixed income markets

Dedicated sector specialists

The team utilizes a specialist model in which each of the portfolio managers offers significant expertise in a given sector of the global fixed income markets. The team is able to source opportunities and navigate risks by leveraging the best ideas of the diverse team.

Primary research

The team believes primary research conducted by dedicated sector specialists in partnership with our substantial global fixed income research team is the optimal approach to uncover a wide range of investment outcomes.

Relative value focus

The team finds that fixed income markets offer alpha opportunities to active managers that effectively employ a relative value framework to sector, issue selection, duration, and yield curve decisions.

Focused on intentional risk

The team employs robust portfolio construction in combination with comprehensive risk control to take intentional risks and to minimize surprises, which leads to consistent alpha generation over a market cycle.

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Composite performance

Average annual returns

(as of 6/30/2024)

4/1/2006

	1M	3M	YTD	1Y	3Y	5Y	10Y	Inception
Composite (Gross)	0.32	1.58	4.30	10.06	6.23	5.54	4.57	5.03
Composite (Net)	0.28	1.45	4.03	9.52	5.70	5.01	4.05	4.50
Benchmark	0.33	2.03	4.42	10.82	6.53	5.60	4.77	4.77
Benchmark	0.27	1.86	4.44	11.04	5.96	5.36	4.61	4.71

Performance is historical and does not guarantee future results. For more information, please refer to the GIPS composite report found in the documents section.

Calendar year

	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Composite	10.85	0.74	3.80	2.87	8.05	-0.26	3.16	7.47	0.95	1.48
Benchmark	13.02	0.58	4.60	2.49	9.04	0.84	3.92	8.56	1.21	1.71
Benchmark	13.04	-1.06	5.40	2.78	8.17	1.14	4.25	9.87	-0.39	2.06

Performance is historical and does not guarantee future results. For more information, please refer to the GIPS composite report found in the documents section.

Our team

Meet the investment team

The team employs a sector specialist model whereby tenured investment professionals are supported by rigorous credit research to source opportunities across global fixed income markets.

View Team

Chris Lee

Portfolio Manager

Michael Schueller