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.
Core Fixed Income Strategy Overview
Objective
Seeks to consistently outperform the Bloomberg US Aggregate Bond Index while maintaining a comparable level of risk
Benchmark
Bloomberg US Aggregate Bond Index
Strategy Inception
February 1, 2008
Highlights
- Invests primarily in US dollar-denominated investment grade securities including corporate bonds, US Treasuries, mortgage-backed securities (MBS) and asset-backed securities (ABS)
- Focuses primarily on sector selection and security selection, and to a lesser extent, yield curve structure
- Typically invests in investment grade securities at the time of purchase (BBB- and above); however, the strategy may hold securities downgraded below investment grade
- Targets a duration typically less than +/- 0.5 year of the Index
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.
Mark Redfearn, CFA
Portfolio Manager
Andrew Brunks, CFA
Portfolio Manager
Calvin Walker
Portfolio Manager
David Frizzie, CFA
Portfolio Manager
Josh Settle, CFA
Portfolio Manager
Jon Nelson, CFA
Portfolio Manager