FIXED INCOME MANAGEMENT

To align liquidity and cash flow requirements with risk tolerance, we may recommend allocating a portion of a client's assets to fixed income investments.

In managing these portfolios, we strive to add value using three distinct strategies:

• Yield curve management
  
• Sector diversification
  
• Credit risk allocation.

We examine a broad set of macroeconomic factors, including developments affecting major sectors of the global bond markets, and we leverage our equity process and models to evaluate corporate credit. This analysis, coupled with our interest rate assessment, shapes our market perspective and guides security selection within government, municipal, corporate, mortgage, agency, and asset-backed sectors.

In addition, we focus on best execution to minimize trading costs and enhance the pool of securities from which portfolios can be constructed. By leveraging extensive contacts in our global network, and by employing the expertise of our people, we strive to deliver the income and returns our clients deserve.