Multi-Sector Fixed Income

Key characteristics: • Team-based collaborative approach between portfolio management and research • Analysts cover issuers across the full credit quality spectrum • Extensive structured research experience and capabilities • Business cycle-informed portfolio management approach • Risk-focused mindset

Aegon AM US Multi-Sector Fixed Income Overview

Strategy

AuM*

Inception date

Core Aggregate $4,367 million October 1, 2008
Core Plus $1,506 million October 1, 2008
Short Duration $2,959 million January 1, 2006
Stable Income $51 million January 1, 2013
Investment Grade $32,312 million January 1, 2003

 *As of September 30, 2018

Philosophy

Multi-sector fixed income portfolios are managed with the belief that: 

  • Business cycles and political developments drive returns. Over the course of a business cycle, rotating asset class and sector allocations, managing interest rate positioning, oscillating risk, and managing around inflection points may add value.
  • Collaboration of research teams across asset classes and geographic regions provides a broader perspective. Portfolio managers leverage the firm’s globally integrated research platform to find best ideas to generate alpha from security selection.
  • Broad diversification mitigates risks associated with individual credits.

 

Investment Process

Using a disciplined and repeatable investment process, the investment team’s long-term perspective focuses on delivering competitive risk-adjusted returns over economic cycles. Portfolios are managed using a team-based approach in which portfolio managers access fundamental research from the global research platform to identify opportunities and mitigate risk.

The multi-sector fixed income strategies employ a fundamental, bottom-up credit research investment process, which is complemented by proprietary top-down macroeconomic analysis and risk monitoring. This disciplined bottom-up approach emphasizes the analysis of fundamentals, valuation, sentiment and technicals.  

 

Distinguishing Characteristics

The Multi-Sector Fixed Income team’s structure, long-term focused approach, and risk-informed process differentiate it from peers:

  • Team-based collaborative approach between portfolio management and research
  • Global Credit Research team analysts cover issuers across the full credit quality spectrum, not just investment grade or high yield
  • Extensive structured research experience and capabilities
  • Business cycle-informed portfolio management approach 
  • Risk-focused mindset