Bank Loan

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) 

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.

photo of Adam Spielman
Adam Spielman

Head of Leveraged Credit, Portfolio Manager

photo of John Broz
John Broz

Portfolio Manager

Our Insights