Taxable Cash Management and Short Duration
Highly customized, actively managed strategies that seek to produce consistent, solid returns using a conservative, consistently applied, risk-managed approach
- Seeks to add long-term value via sector rotation, security selection and duration management
- Highly diversified portfolios constructed to maximize yield, while minimizing the impact of any single credit event
- Investment insights applied through a risk-controlled framework
Overview
Investment Philosophy
Three questions drive our investing framework, enabling us to exploit mispricing opportunities with conviction
- What is the market's expectation? - market's risk/reward tradeoff as expressed in asset's price
- Where do we have investment insight? - our differentiated view and the implications for the asset's price
- How confident are we on our views? - our conviction level
Investment Process
Investments are primarily selected by measuring sensitivity and correlation to changes in long-term inflation expectations
1. Sector Research & Valuation
We use insights gained from proprietary fundamental and quantitative research to uncover, analyze and seek to capitalize on market opportunities.
2. Portfolio Strategy and Risk Budgeting
Internally generated expected return forecasts of asset classes lead directly to developing strategy and risk budgets.
3. Issue Selection
Proprietary analytical tools complement our ability to identify, select and monitor portfolio positions.
4. Risk Management
Risk control is fully integrated into every step of our investment process. We utilize a proprietary risk management framework in building and managing the risk budget of our portfolio.
5. Portfolio Construction
Our portfolio seeks to achieve maximum information ratio.
Management
Thomas A. Sontag
Michael Foster
Matthew McGinnis
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