Risk Reducing

When market volatility is high and risk assets are making waves, many investors want an anchor in their portfolio that will mitigate risk assets’ poor returns. That “anchor to windward” is core fixed income. Other investors may desire equity returns but with better downside protection. For them, a low-volatility equity strategy may be a suitable risk reducer. Still other investors cannot afford to risk almost any principal; such investors require short-term, very high-quality bond strategies. From the stability investor to the low-vol equity investor, institutional clients can find the right solution among our risk-reducing strategies.

Bonds

Global Plus

 

Global-Plus Fixed Income is an actively managed global bond strategy with a research-driven investment approach. This service invests in the sovereign debt of developed countries, investment-grade credits, agencies, mortgages, commercial mortgage-backed securities and asset-backed securities, and takes opportunistic positions in high-yield and emerging-market debt, where permitted by client guidelines. Our goal is to outperform the Barclays Global Aggregate Index by 100–200 basis points annually, before fees, over full market cycles.

Global Fixed Income

 

Global Fixed Income is an actively managed global bond strategy with a research-driven investment approach. This service invests primarily in the sovereign debt of developed nations and takes opportunistic positions in investment-grade credits, agencies, mortgages, commercial mortgage-backed securities and asset-backed securities. Our goal is to outperform the Citigroup WGBI or other global government bond indices by 50–100 basis points annually, before fees, over full market cycles.

US Investment-Grade Credit

 

US Investment-Grade Corporates is an actively managed fixed-income strategy with a research-driven investment approach. Our goal is to outperform the investment-grade corporate market as represented by the Barclays US Corporate Index or a similar benchmark by 50 to 100 basis points annually, before fees, over full market cycles.

Unconstrained Bond

 

Unconstrained Bond Strategy is a benchmark agnostic, global multi-sector fixed income service. It is risk-focused and run with a long-short strategy, gaining most of its exposures through investments in highly liquid derivative instruments. The service features a risk-balanced beta core that drives the majority of our performance, an alpha component that reflects our highest conviction ideas, and a permanent tail hedging overlay that buffers performance in times of market stress. The service has historically had low correlation to traditional equity and bond indices

TIPS Plus

 

TIPS Plus Strategy is a service optimized to and benchmarked against the Barclays Capital 1-10 Year TIPS Index, which has a lower duration profile than the Barclays TIPS Index. Our Strategy is designed to offer inflation protection while generating long-term real returns in line with an intermediate duration multi-sector index.

US Short Duration

 

US Short Duration seeks to achieve a total-return advantage over its three-month LIBOR benchmark while providing the safety of high-quality, liquid fixed-income securities. Our goal is to outperform the benchmark by 50 to 75 basis points annually, before fees, over full market cycles. This service generally has a low correlation with other fixed-income strategies.

Global Short Duration

 

Global Short Duration is a low-duration, high-quality, core fixed-income strategy. The strategy seeks to achieve high total investment return by investing in a global portfolio of investment-grade fixed-income securities denominated in various currencies, while maintaining an average duration of five years or less. At least 70% of non–US dollar positions will be hedged into US dollars in an effort to minimize the risks of currency fluctuations. This strategy is available via separate accounts or as a Luxembourg-domiciled, UCITS-compliant fund designed for non-US investors.

Stocks

Global Low-Volatility Equities

 

Global Low-Volatility Equities seek to achieve long-term capital growth. In seeking to achieve the Portfolio’s objective, the Investment Manager identifies equity securities that it believes have fundamentally lower volatility and less downside risks in the future. The Investment Manager uses its proprietary risk and return models as well as its judgment and experience in managing investment portfolios to construct a portfolio that seeks to minimize volatility while maximizing quality exposure. The Portfolio will predominantly invest in equity securities of companies in developed markets; however, the Portfolio is not restricted from purchasing equity securities in any country, including emerging markets.

US Equity Income

 

US Equity Income seeks to generate current income and capital appreciation through investment in a portfolio of dividend-paying companies. Using the firm’s disciplined value process, the portfolio managers seek to identify companies with attractive valuations and a long-term ability to support or grow their dividend payments. Based on a thorough cash flow analysis, the portfolio may invest in non-dividend paying companies that our research suggests have the capability to return cash to shareholders through stock repurchases or the initiation of dividend payments.

Emerging Markets Strategic Core Equity

 

Emerging Markets Strategic Core is an active equity strategy that seeks to achieve balanced exposure across quality, stability and reasonable price. Benchmark insensitive, high active share. Integrated quantitative and fundamental research. Premium driven by stock selection.

European Flexible Equity

 

European Flexible Equity seeks to achieve long term growth of capital. The Portfolio seeks to generate positive returns by employing an absolute return strategy without regard to indices and benchmarks.