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 fixed income strategy invests in broad bond sectors embraced by the Barclays Capital U.S. Aggregate Bond Index and opportunistically up to 20% (total) in below-investment-grade securities and emerging markets debt. 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 75-100 basis points over a full credit cycle with annualized tracking error of 2%.
Process
Our investment process involves a focus on macro themes, which are incorporated in every aspect of the decision-making process. We integrate quantitative and fundamental analysis at the center of 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.
