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Intermediate Government Credit Strategy

The Intermediate Government Credit Strategy is an investment grade, 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

Eligible investments include Treasury, government-related and corporate bonds. 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

Treasury Bonds

Government-Related Bonds

Corporate Bonds

Strategy Information

Inception Date: January 2005

Strategy AUM: $1.6 Billion

Benchmark: BBG Barc Intermediate US Gov/Credit

Portfolio Characteristics

Average Maturity 4.24 Years

Average Duration 3.88 Years

Average Credit Rating AA

Average Yield to Maturity 2.64%

Average Coupon 2.62%

Average Annual Turnover 15-30%

Ratings Profile*

AAA 44.2%

AA 24.5%

A 21.4%

BBB 10.0%

Sector Profile

Treasuries 40.0%

Government-Related 21.1%

Corporates 37.8%

Cash 1.2%

*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 3/31/19. 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.