Objective |
Maximize total return over longer-term market cycles, while consistently generating high levels of current income. |
| Management Style |
Actively manage a combination of value-oriented strategies while controlling the market risk:
- Strategic sector allocation
- Controlled duration management
- Tactical trading opportunities |
| Maturity/Duration |
Average Duration 2-6 years |
| Benchmark |
Merrill Lynch 1-10 year Government/Corporate Index |
| Quality |
Both investment and non-investment grade securities are utilized across all major sectors. The focus is on improving crossover credits because of their greater potential for capital appreciation. No more than 25% of the portfolio will be invested in securities rated below investment grade. |
| Primary Sectors |
Corporates, Treasuries, Agencies, Mortgages, Asset-backed Securities |
