Fixed income

U.S. Enhanced Core Bond Strategy

The strategy pursues total return in excess of the Bloomberg U.S. Aggregate Index. The strategy is primarily investment-grade-focused but also allocates strategically to BB-rated (high yield) corporate bonds.

Products offered
  • Separate Account
    • U.S. Enhanced Core Bond

Competitive advantages

Investment horizon

The team uses a six-month investment horizon to anticipate market inflection points.

Multiple levers

The team strategically allocates, by objective, to a variety of alpha sources through security selection, sector allocation, and duration and curve positioning.

Unbiased approach

The team seeks diversified and unbiased sources of alpha in an effort to generate compelling returns over a market cycle.

Investment approach

A consistent approach for thriving in inconsistent fixed income markets

Dedicated sector specialists

The team utilizes a specialist model in which each of the portfolio managers offers significant expertise in a given sector of the global fixed income markets. The team is able to source opportunities and navigate risks by leveraging the best ideas of the diverse team.

Primary research

The team believes primary research conducted by dedicated sector specialists in partnership with our substantial global fixed income research team is the optimal approach to uncover a wide range of investment outcomes.

Relative value focus

The team finds that fixed income markets offer alpha opportunities to active managers that effectively employ a relative value framework to sector, issue selection, duration, and yield curve decisions.

Focused on intentional risk

The team employs robust portfolio construction in combination with comprehensive risk control to take intentional risks and to minimize surprises, which leads to consistent alpha generation over a market cycle.

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Composite performance

Average annual returns

Average annual returns

(as of 12/31/2024)
7/1/2005
1M
3M
YTD
1Y
3Y
5Y
10Y
Inception
Composite (Gross)
-1.50
-2.85
2.61
2.61
-1.87
0.98
2.52
4.41
Composite (Net)
-1.52
-2.91
2.34
2.34
-2.18
0.65
2.17
4.02
Benchmark
-1.64
-3.06
1.25
1.25
-2.41
-0.33
1.35
2.96
Benchmark
-1.51
-2.73
2.04
2.04
-1.95
0.06
1.73
3.26

Performance is historical and does not guarantee future results. For more information, please refer to the GIPS composite report found in the documents section.


Calendar year

Calendar year

2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
Composite (Gross)
2.61
6.77
-13.75
0.61
10.43
9.78
0.19
5.12
4.89
0.77
Composite (Net)
2.34
6.42
-14.05
0.26
10.05
9.40
-0.16
4.75
4.48
0.37
Benchmark
1.25
5.53
-13.01
-1.54
7.51
8.72
0.01
3.54
2.65
0.55
Benchmark
2.04
6.17
-12.99
-1.10
7.58
9.29
-0.25
4.09
3.91
0.43

Performance is historical and does not guarantee future results. For more information, please refer to the GIPS composite report found in the documents section.


Our team
Meet the investment team

The team employs a sector specialist model whereby tenured investment professionals are supported by rigorous credit research to source opportunities across global fixed income markets.

View Team
Christopher

Christopher Kauffman

Portfolio Manager
Janet

Janet Rilling

Head of Plus Fixed Income
Michael

Michael Schueller

Portfolio Manager
Michal

Michal Stanczyk

Portfolio Manager
Noah

Noah Wise

Portfolio Manager

Key risks

Market risk: Security markets are volatile and may decline significantly in response to adverse issuer, regulatory, political, or economic developments with different sectors of the market and different security types reacting differently to such developments.

Debt securities risk: Debt securities are subject to both credit and interest rate risk. Credit risk is the possibility that the issuer or guarantor of a debt security may be unable, or perceived to be unable or unwilling, to pay interest or repay principal when they become due, and credit risk increases as an issuer’s credit quality or financial strength declines. Interest rate risk is the possibility that interest rates will change over time such that when interest rates rise, the value of debt securities tends to fall and the longer the terms of the debt securities held the greater the impact of this risk.

High yield risk: If a strategy invests in high yield securities (commonly known as junk bonds), these securities are considered speculative and have a much greater risk of default or of not returning principal and their values tend to be more volatile than higher-rated securities with similar maturities.

Foreign securities risk: If a strategy invests in the securities of non-U.S. issuers, these investments may be subject to lower liquidity, greater price volatility, and risks related to adverse political, regulatory, market, or economic developments and may be affected by changes in foreign currency exchange rates.

Investors should know that this strategy deployed may be subject to additional investment risks. For important information about the investment manager, please refer to the investment manager’s Form ADV Part 2, which is available upon request.

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We look forward to helping you with your investment needs

 

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