Core Plus Fixed Income

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 Plus 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

January 1, 2009

Highlights

  • Invests primarily in US dollar-denominated investment grade securities including corporate bonds, mortgage-backed securities (MBS), US Treasuries, asset-backed securities (ABS), and to a lesser extent, below investment grade corporate bonds and sovereigns
  • Focuses primarily on sector selection and security selection, and to a lesser extent, yield curve structure
  • Typically invests in investment grade securities (BBB- and above); however, the strategy has flexibility to invest up to 20% in below investment grade securities at the time of purchase
  • 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.

photo of Josh Settle
Josh Settle, CFA

Portfolio Manager

photo of Jon Nelson
Jon Nelson, CFA

Portfolio Manager

photo of David Frizzie
David Frizzie, CFA

Portfolio Manager

photo of Mark Redfearn
Mark Redfearn, CFA

Portfolio Manager

photo of Andrew Brunks
Andrew Brunks, CFA

Portfolio Manager

photo of Calvin Walker
Calvin Walker

Portfolio Manager

Our Insights