Fixed Income Process
We build smarter fixed-income portfolios. Our bond selection process is designed to provide balance, stability, and opportunity within a diversified portfolio. Every decision is guided by discipline and a clear focus on risk control.
For efficient cash management, we use money markets, CDs, Treasuries, corporate and municipal bonds, government securities, and commercial paper.
Balanced
Approach
Bonds are carefully selected to complement equities, lowering overall portfolio risk and smoothing returns
Maturity
Discipline
We focus on intermediate maturities (2–5 years), striking the right balance between yield and sensitivity to interest-rate changes
Structured for Opportunity
A laddered portfolio structure captures the best risk–reward characteristics over time, creating consistent opportunities for reinvestment
Sector
Allocation
We add value by allocating among U.S. Treasuries, agencies, municipals, and corporates, targeting the most attractive total return opportunities
Risk
Control
We actively manage interest-rate risk by avoiding long bonds, laddering maturities, and holding investment-grade securities
Credit
Discipline
Strict, disciplined equity-style credit criteria ensure that only the strongest, most reliable issuers qualify for inclusion
Event Risk Management
Diversification is built into every portfolio, with exposure spread across Treasuries, agencies, municipals, and corporates
Portfolio Diversification
Typically, no single issue ever represents more than 5% of an investment portfolio