Portfolios are constructed with high-quality; U.S. dollar-denominated securities rated investment grade or better at time of purchase. Primary consideration is given to numerous and diverse value-adding opportunities using duration management, yield curve positioning, sector allocation and security selection. We can and do make major shifts in our sector allocations to take advantage of short-term market conditions. Duration is closely monitored but not restricted to the benchmark. We believe this allows us to take advantage of opportunities while managing volatility. No single non-government security will be more than 5 percent of the portfolio value at the time of purchase.
| Inception Date | January 1, 2003 |
| Assets Under Management (in millions) | $177.80 |
| Investment Style | Core - Specialized |
| Decision Making | Opportunistic |
| Benchmark | Barclays U.S. Aggregate Bond Index |
| Strategic Fixed Income | Barclays U.S. Aggregate Bond Index | |
|---|---|---|
| Average Credit Quality | Aa1 | Aa1 |
| Duration | 8.0 yrs | 6.1 yrs |
| Current Yield | 2.3% | 2.6% |
| Number of Holdings | 65 | 11912 |
| Strategic Fixed Income | Barclays U.S. Aggregate Bond Index | |
|---|---|---|
| Governments | 57.60 | 39.00 |
| Asset-Backed | 4.90 | 0.40 |
| Mortgage-Backed | 23.90 | 29.10 |
| Corporates | 9.00 | 30.70 |
| Taxable Municipals | 2.60 | 0.90 |
| Cash | 2.00 | 0.00 |