Fixed income

U.S. Short Duration Fixed Income Strategy

The strategy aims to outperform the Bloomberg 1–3 Year U.S. Government Index by investing the majority of its assets in high-quality securities issued or guaranteed by U.S. government agencies or government-sponsored enterprises.

Competitive advantages

Consistent performance

​Consistent performance across all types of market environments targets a superior information ratio.

Comprehensive risk controls

The team is committed to an intense focus on risk discipline.

Bottom-up portfolio construction

Bottom-up, active relative-value management seeks to generate outperformance from security selection, not interest rate or sector positioning.

Investment approach

Seeks consistent, replicable outperformance across market environments

The team conducts careful evaluations of opportunity sets within the context of portfolio strategy.

Bottom-up security selection from a focused universe of high-quality, liquid bonds offers the opportunity for consistent and replicable outperformance.

Dedicated sector specialists conduct in-depth fundamental and industry research.

Company reviews within an industry context help frame risk profiles and lay groundwork for relative-value analysis.

Active relative-value management creates opportunities for alpha.

Analysts integrate fundamental research with market intelligence to formulate relative-value views and support active relative-value trading.

A focus on risk and relative value allows security selection to be a driver of returns.

The team’s proprietary risk management system, RiskSum™, creates the foundation for a highly disciplined decision-making process.

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Composite performance

Average annual returns

Average annual returns

(as of 9/30/2024)
1/1/1993
1M
3M
YTD
1Y
3Y
5Y
10Y
Inception
Composite (Gross)
1.00
3.04
4.98
8.19
1.37
1.69
1.75
4.07
Composite (Net)
0.98
2.97
4.79
7.92
1.12
1.42
1.38
3.58
Benchmark
0.81
2.89
4.13
6.78
1.28
1.49
1.42
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

2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
Composite (Gross)
4.83
-4.65
-0.96
4.11
4.00
1.45
1.19
1.61
0.87
1.46
Composite (Net)
4.57
-4.89
-1.21
3.80
3.54
0.99
0.73
1.15
0.42
1.00
Benchmark
4.32
-3.81
-0.60
3.14
3.59
1.58
0.45
0.87
0.57
0.64

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

To deliver risk-adjusted excess returns for clients, the team focuses on price inefficiencies and actively employs relative-value management or rotation at the security level.

View Team
Maulik

Maulik Bhansali

Co-Head of Core Fixed Income
Jarad

Jarad Vasquez

Co-Head of Core Fixed Income

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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