Fixed income

U.S. Intermediate Income Focus Strategy

The strategy aims to maximize investment income and total return, preserve capital, and maintain liquidity by focusing mainly on investment-grade corporate bonds with a secondary focus on structured products, taxable municipals, and governments.

Products offered
  • Separate Account
    • U.S. Intermediate Income Focus

Competitive advantages

Yield-enhanced total return solutions

​Consistent and competitive long-term performance, on both an absolute and risk-adjusted basis.

Benchmark-aware vs. Benchmark-centric

Absolute return orientation and flexibility to focus on less efficient sectors within the market.

Client partnership model

An extension of each client’s team—a tailored portfolio, not a “product.”

Optimal team structure

The team is functionally organized to extract value from the market.

Competitive income and risk controls

Well-underwritten income seeks to drive competitive total return and information ratios.

Investment approach

Focus on yield advantage and security selection

Evaluation of relevant market themes forms the basis for portfolio strategy.

Regularly scheduled meetings are held to discuss macro strategy, thematic sectors, market trends, and name-specific reviews.

The portfolio framework is constructed using team strategy conclusions.

Sector targets, duration and curve views, quality bias, and liquidity targets are considered.

Credit sector portfolio managers implement high-conviction ideas into portfolios.

The team blends rigorous fundamental research within a robust relative-value framework.

The sell discipline is driven by valuation and risk management.

The process encompasses valuation, fundamentals, and partnership with credit analysts.

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Composite performance

Average annual returns

Average annual returns

(as of 3/31/2024)
1M
3M
YTD
1Y
3Y
5Y
10Y
Inception
Composite (Gross)
0.83
-0.13
-0.13
2.85
-0.76
1.59
2.27
3.86
Composite (Net)
0.81
-0.19
-0.19
2.55
-1.06
1.28
1.97
3.50
Benchmark
0.64
-0.15
-0.15
2.69
-1.06
1.09
1.61
2.82

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

Calendar year

2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
Fund
5.35
-8.52
-1.31
7.28
7.82
0.13
3.35
3.10
0.93
4.64
Benchmark
5.24
-8.23
-1.44
6.43
6.80
0.88
2.14
2.08
1.07
3.13

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

To deliver strong performance for clients, the team maintains an intense focus on finding high-quality, well-underwritten bonds with a competitive income advantage.

View Team
Scott

Scott Smith

Head of Investment Grade Income
Jonathan

Jonathan Terry

Portfolio Manager
Contact Us

We look forward to helping you with your investment needs

 

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