The Multi-Credit Spectrum strategy seeks to provide total return through interest income, capital appreciation, and duration management with durability through down markets. Residual returns are generated through tactical allocation of capital toward the optimal risk-return opportunities available in the market. The strategy has consistently generated alpha over the Bloomberg Barclays US Aggregate Bond Index.
Differentiated profile characteristics of the Multi-Credit Spectrum strategy:
- Well diversified portfolio of credit instruments
- Focus on durable credit with tactical investing along the capital structure spectrum
- Identify relative value and upgrade candidates where return opportunity exceeds risk of downside loss
- Duration risk management
- Downside sell discipline with detailed covenant review, including change of control