The investment objective of this strategy is to minimize downside risk in any environment and maintain consistent quarterly total returns over an intermediate to long term investment horizon investing primarily in corporate bonds.
Tag: Fixed Income
Intermediate Term Taxable Strategy Profile 1Q20
The investment objective of this strategy is to minimize downside risk in any environment and maintain consistent quarterly total returns over an intermediate investment horizon.
Moderate Term Taxable Strategy Profile 1Q20
The investment objective of this strategy is to minimize downside risk in any environment and maintain consistent quarterly total returns over a short term 1-5 year investment horizon.
Short Term Taxable Strategy Profile 1Q20
The investment objective of this strategy is to minimize downside risk in any environment and maintain consistent quarterly total returns over a short term 1-3 year investment horizon.
Sage Advice Municipal Quarterly Market Review 1Q2020
With a higher probability of industry-wide downgrades over the coming year, sector allocation and rebalancing will remain focused on stable-to-improving sectors, including both general obligation and essential service revenue bonds rated A2 and higher. During these volatile and uncertain times, Sage remains focused on principal preservation, improving liquidity, and stable tax-free income generation.
Sage Advice Taxable Quarterly Market Review 1Q2020
Our base-case scenario has shifted from a fragile stabilization going into 2020 to a global recession, with a large contraction in the first half and some recovery into year-end. Given our macro outlook, safety and liquidity remain our current mindset within our fixed income strategies. With the significant reset in spread sector valuations and limited carry in Treasuries and high-quality markets, we believe returns over the coming quarters will ultimately be driven more by spread tightening and security selection opportunities. To this end, we have maintained a close to full duration position to mitigate continued volatility in spreads, but we have started to trim some duration and add to credit opportunistically.
The Coronavirus and Sage’s Fixed Income Exposure
February 6, 2020 — The WHO has called the coronavirus crisis outbreak a “public health emergency of international concern.” This declaration has implications for the entire world economy, but certain sectors will be affected more than others. Transportation, Energy, and Basic Materials are most likely to be adversely impacted by a large decrease in demand for travel, fuel, and raw materials in the Asia-Pacific region. In light of this, we examined the exposure in our fixed income portfolios to a potential fallout from the spread of the virus.
Risk-Based Capital — Fixed Income Takes Center Stage
February 7, 2019 — The National Association of Insurance Commissioners (NAIC) is seeking to implement changes to risk-based capital (RBC) requirements for fixed income, leading to potentially surprising and significant increases in capital needs. This calls for more immediate and detailed portfolio assessments coupled with a plan for efficient repositioning and implementation. Insurers should consider leveraging the combined fixed income and insurance specializations at Sage to construct portfolios that are capital efficient and remain aligned with their overall business objectives.
Brexit Video Commentary June 2016
September 2, 2016 — In light of the recent Brexit referendum and the reaction of the markets on a worldwide basis, Sage shares their thoughts on the future and their portfolio strategies moving forward.
Build America Bonds, The Fiscal Cliff & Insurer Portfolios
September 1, 2016 — With about two weeks to go until the stated deadline for Congress to address the automatic spending cuts set to be imposed on most federal agencies, one component that may have slipped under the radar for many insurance companies is the impact that the “Fiscal Cliff” (as these mandatory cuts are being called) would have on Build America Bonds (BABs).