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 Highlights

  • Inception Date: 01 January 2009

  • Focuses primarily on sector rotation, individual security selection, and to a lesser extent, duration and yield curve management

  • Benchmarked against the Bloomberg US Aggregate Bond Index

  • Invests primarily in US dollar-denominated investment grade asset classes, including US Treasury, government-related, corporate and structured securities, with a bias toward non-Treasury sectors

  • Has broad flexibility to invest in high yield securities, which will typically be rated BBB- or higher (or its equivalent) at time of purchase

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.

photo of Michael Kennedy
Michael Kennedy, CFA

Senior Managing Director, Portfolio Manager

photo of Josh Settle
Josh Settle, CFA

Senior Managing Director, Portfolio Manager

Our Insights