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Government Credit Strategy

The Government Credit Strategy is an investment grade, long-intermediate duration bond portfolio that seeks to maximize risk-adjusted return and preserve capital.

EXPLORE OUR INVESTMENT STRATEGIES
Tax-Efficient
Government Credit
Core Government Credit

Maturity Based

Sustainable

The longest of Breckinridge’s Government Credit product offerings, this strategy is designed for investors who have a higher tolerance for price volatility. Eligible investments include corporate, municipal, Treasury, government agency and supranational securities. Managed in a separate account, the strategy employs active management, bottom-up credit research, opportunistic trading and proactive portfolio structuring. Customizations are available by benchmark, sector, maturity, duration and credit quality. 

Investment Objective

Maximize risk-adjusted return and preserve capital

Eligible Investments

Corporate Bonds

Taxable Municipal Bonds

U.S. Treasury Notes

U.S. Agency Debt

Supranational Bonds

Strategy Information

Inception Date: January 2010

Strategy AUM: $467 Million

Benchmark: BBG Barc US Gov/Credit

Portfolio Characteristics

Average Maturity 8.29 Years

Average Duration 6.38 Years

Average Credit Rating AA

Average Yield to Worst 3.35%

Average Coupon 2.90%

Average Annual Turnover 15-30%

Rating Distribution

AAA 39.4%

AA 23.8%

A 28.3%

BBB 6.9%

Unrated 0.0%

Cash 1.6%

Asset Allocation

Corporates 39.5%

Treasuries 34.7%

Taxable Municipals 23.7%

Agencies 0.5%

Supranational 0.0%

Other 0.0%

Cash 1.6%

The information above is current as of 9/30/18. Characteristics provided are representative of fully invested portfolios managed to this strategy and are intended to illustrate general strategy information. These characteristics are subject to change given market conditions and client objectives. Actual portfolios may vary.