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Strategy overview

The US Government Fixed Income strategy aims to provide a consistent level of income, with an emphasis on liquidity and principal preservation, through a diversified portfolio of short duration bonds denominated in US dollars.

  • High quality, US Government portfolio that invests primarily in U.S. Treasuries, Agencies, Taxable or Tax-exempt Municipals, Agency Secured, Mortgage Backed Securities
  • Our strategy offers a high quality income advantage relative to the benchmark, which aims to generate strong and consistent excess returns.

We believe:

  • Security and sector selection has the potential to pay over time through income
  • Liquidity premiums can be exploited
  • Interest rate anticipation increases risk (volatility) and must be controlled at all times.

Our approach

Investment philosophy and style

Our bottom-up, fundamental process is combined with robust, top-down risk management tools that aims to meet the objectives of principal preservation, liquidity and consistent excess returns over the long term.

We employ a fundamental investment process to construct a diversified portfolio of high quality fixed income securities that aims to deliver consistent excess returns (income) with low volatility.

Fundamental security selection

We add value through bottom-up fundamental security selection, selecting those securities that fundamental analysis shows carry the highest levels of intrinsic value. Each security under consideration is subject to ongoing qualitative, quantitative and structural research. Our strategy is to capture an income advantage that will deliver excess returns over the long term. We believe that this systematic security selection approach contributes the most consistently to alpha.

Emphasis on risk management

Capital preservation mind-set focusing on mitigating downside potential

  • Mandate and policy controls
  • Full, multidisciplinary vetting of client policies and objectives
  • Multiple levels of review
  • Clear accountabilities and cross checks
  • High quality focus reduces credit risk

U.S. Fixed Income team expertise

  • Stable team of highly experienced analysts and portfolio managers executing a proven repeatable process
  • Distinct and specialized areas of expertise among fixed income team members dedicated to fundamental, bottom-up analysis
  • Our team-based structure enhances our ability to recognize and respond quickly to the nuances of opportunity and risk in the US fixed income market.

Additional information

July 1989
Primary benchmark
Bloomberg Government Index
Segregated Account

Investment team

BlueBay Fixed Income team

Fixed income specialist providing progressive investment solutions

Connect with our team to learn more

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