Cash Balance Portfolio Shift Commentary 05/20/2016

Anticipating a range-bound interest rate environment over the near term, we have reduced our exposure to short-term Treasury allocations in favor of intermediate-term credit and mortgage-backed fixed income. We have also added a position in senior secured bank loans, with the intention of participating in a favorable tradeoff between yield and volatility.

  • DATE: May 20, 2016
  • TYPE: PDF

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