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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.

Government Credit
Core Government Credit

Maturity Based


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 Treasury, government-related and corporate bonds. Managed in a separate account, the strategy employs active management, bottom-up research, efficient 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

Treasury Bonds

Government-Related Bonds

Corporate Bonds

Strategy Information

Inception Date: January 2010

Strategy AUM: $544 Million

Benchmark: BBG Barc US Gov/Credit

Portfolio Characteristics

Average Maturity 8.39 Years

Average Duration 6.54 Years

Average Credit Rating AA+/AA

Average Yield to Maturity 2.37%

Average Coupon 2.90%

Average Annual Turnover 15-30%

Ratings Profile*

AAA 44.5%

AA 23.1%

A 23.9%

BBB 8.5%

Sector Profile

Treasury 38.6%

Government-Related 22.0%

Corporate 38.1%

Cash 1.3%

*Methodology uses lowest of S&P and Moody’s, but Prerefunded and Treasury bonds default to AAA category.

The information above is current as of 6/30/19. 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.