US Investment Grade

The US Investment Grade team's 16 investment professionals manage US $7 billion across Credit, Securitized Products, Government and Preferred Securities. The team's investment philosophy, Integrated Portfolio Management (IPM), is driven by the collaboration between portfolio managers, traders and analysts. Specifically, IPM combines the input of these groups with a research driven credit process and a rigorous risk management focus.*

Credit

• Strategies include:
• Core and Core Plus
• High Quality, Short Duration, and Long Duration Credit
• US Government Securities and Agencies
• Inflation Protected / TIPS & Linkers

• Research driven process includes:
• Evaluation of the Fundamentals, Valuations and Technicals of each credit and sector
• Relative Value Rating – ranking credits relative to others in their sector

• Analyst Risk Rating – credit rating issued to each credit independent of ratings agencies

Securitized Products

• Strategies include:
• Agency Mortgage Backed Securities
• Non-Agency Residential Mortgage Backed Securities
• Commercial Mortgage Backed Securities
• Asset Backed Securities

• Research driven process includes:
• Detailed analysis of underlying collateral pool
• Analysis of each bond's expected fundamental cash flows rather than of its credit rating

Preferred Securities

• Focus on securities in exchange traded and OTC markets
• Stresses capital structure positioning

All investments involve risks, including the loss of principal invested. Click here for our Global Disclosure Statement.

*as of 31 March 2012