Investment Grade Credit

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.

Investment Grade Credit Strategy Highlights

  • Inception Date: 01 April 2005

  • Focuses primarily on individual security selection and secondarily on sector rotation

  • Benchmarked against  the Bloomberg US Credit Index

  • Invests primarily in US dollar-denominated investment grade securities and, to a lesser extent, non-corporate securities represented in the benchmark, including Sovereigns, Supranationals, Foreign Agencies and Foreign Local Governments

  • Has considerable flexibility to invest in structured securities

  • Typically does not purchase securities rated below BBB- (or its equivalent) at the time of purchase; however, the strategy may hold securities downgraded below this threshold after purchase

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 Mark Redfearn
Mark Redfearn, CFA

Senior Managing Director, Portfolio Manager

photo of Matt Willey
Matthew Willey, CFA, CPA

Senior Managing Director, Portfolio Manager and Head of Quantitative Research

photo of Calvin Walker
Calvin Walker

Managing Director, Portfolio Manager

Our Insights