Methodology

We believe that fundamental analysis and security selection will add substantial value compared to a more passive approach.

Investment Philosophy

Our fixed income approach concentrates on security selection. We do not distinguish among bonds by credit rating, but rather on fundamentals.

Research Process

Our investment process is focused on bottom up, fundamental research and security selection.

Decision Making Process

Our investment process begins with a thorough fundamental review of the issuer of a security. A team meeting is then held to consider the issue or issuer in question.

Portfolio Construction

Given the wide range of experience and analytical skill of our professional staff, we make it a priority to encourage debate and a complete assessment of all important issues.

Risk Management

No matter how good the credit analysis or the underlying situation of the issuer, there is the potential for disruption to cash flows that cannot be foreseen. Such a disruption can be disastrous for a weaker or lower quality credit.

Responsible Investment

In our fiduciary role, we believe environmental, social, and governance (ESG) issues can affect the performance of issuers included in the investment portfolios we manage, but that the effect can vary substantially across issuers.