Strategic Fixed Income
The term "strategic" applied to a fixed income portfolio suggests that the portfolio manager adds value beyond that of what a typical active manager will. In addition to sourcing best pricing of bond purchases and sales, reinvesting maturing issues, monitoring bond credit qualities, constructing portfolios, selecting bonds with improving credit profiles and eliminating those with deteriorating credit qualities, Quorum's strategic portfolio provides for tactical investments in asset classes that might provide the opportunity for shorter-term profits, as well as income. These investments will fall outside that mandate of the core investment strategy and will be relatively small and short term in nature. Some of these may even fall outside of the asset classes that are considered traditionally fixed income in nature. By providing the entire spectrum of value-added fixed income management activities, Quorum makes it possible to boost investment returns without appreciably altering the risk profile of the overall fixed income portfolio. The process for building the fixed income portfolio is also institutionalized, though it is highly dependent on portfolio managers' relationships with institutional fixed income professionals for its access to securities, bonds and research. |