We seek to provide enhanced returns while reducing total portfolio volatility, particularly in periods of equity stress. Through the integration of private real estate debt into fixed income portfolios, we seek to provide a diversified yield enhancement that takes on the role of portfolio stabilizer. Additional components of our bond plus strategies include mortgages and high-yield bonds. 

Investment Process:

We actively manage our fixed income portfolios, using a combination of fundamental and technical analysis. Our multi-strategy approach aims to add value by targeting duration management, sector allocation and security selection. Fundamental analysis seeks to identify the current stage of the interest rate and credit cycle by examining economic and monetary conditions. This outlook sets the bias for interest rate, yield curve and credit positioning. 

Technical analysis examines the supply and demand factors that are barometers of investor sentiment, allowing us to appropriately scale risk around our fundamental bias. Our unbiased approach allows the bond plus strategies to underweight credit risk as the economic cycle matures and reduces total portfolio downside deviation from market risks, such as equities, while enhancing returns through private debt integration.