Portfolio Managers
Christine Hurtsellers, CFA,
Chief Investment Officer, Fixed Income and Proprietary Investments
Michael A. Mata,
Head of Multi-Sector Fixed Income Strategies
Matt Toms, CFA,
Head of U.S. Public Fixed Income Investments
Philosophy
This is a core fixed income strategy that invests only in investment-grade securities. The strategy capitalizes on the talents of an experienced fixed income investment team working across multiple regions and sectors. We believe fixed Income segment returns vary over time, and macro theme analysis, combined with disciplined research and relative value analysis, will identify unrecognized value investment opportunities and produce superior long term performance.
Objective
Our objective is to outperform the Barclays Capital U.S. Aggregate Bond Index by 75 basis points over a full credit cycle with annualized tracking error of 1.5%.
Process
Our investment process involves a focus on macro themes, which are incorporated as the top-down element of the decision-making process. Quantitative and fundamental analysis are combined in the disciplined, bottom-up security selection approach. Feedback loops across all teams ensure that all elements are continuously connected. Strong risk budgeting, risk management and compliance capabilities ensure quality checks and balances. Ultimately, we seek consistently competitive returns appropriate to each client’s mandate and risk tolerance.
