Investment Philosophy
Our fixed income investment approach combines bottom-up research with top-down sector selection to consistently seek favorable, risk-adjusted results. We believe that the volatility of market prices exceeds that of fundamental asset values. This dislocation creates opportunities for investors with the skilled personnel, infrastructure and insight necessary to identify relative value generated by market inefficiencies.
Bank Loan Strategy Overview
Objective
Seeks to consistently outperform the Morningstar LSTA US Leveraged Loan Index while maintaining a comparable level of risk
Benchmark
Morningstar LSTA US Leveraged Loan Index
Strategy Inception
April 1, 2011
Highlights
- Invests primarily in US dollar-denominated senior floating rate loans, and to a lesser extent, below investment grade corporate bonds
- Focuses primarily on security selection, and to a lesser extent, sector selection
- Typically invests in below investment grade instruments (BB+ and below)
Investment Solutions
Portfolio Managers
Experienced Team
PPM is an investment-led organization which utilizes a team-based approach to manage the assets of the portfolio. Portfolio managers work closely with asset class specialists, research analysts and traders to generate ideas and to gain greater insight on the market environment as they make investment decisions.
Adam Spielman
Head of Leveraged Credit, Portfolio Manager
John Broz
Portfolio Manager