Investment Overview

Multisector bond is a bottom-up, long only, global opportunistic bond strategy focused on long term total return.
Target excess return: 250–400 basis points
Target tracking error range: 500–800 basis points
Typical estimated volatility range (standard deviation): 6-10%
We de-emphasize managing to a benchmark, and believe that active risk drives excess return.
We look to provide attractive total return over the medium to long term (2 to 5 years).

Portfolio Construction

Bottom-up focus on security selection drives portfolio construction
Fundamental research and market inefficiencies provide opportunity for contrarian thinking
Rigorous credit work underpins security selection
Behavioral inefficiencies provide entry point
Portfolio risk is measured on an absolute and relative basis, and through scenario analysis

Investment Team

Kathleen Gaffney, CFA
Lead Portfolio Manager, Vice President and Co-Director of Diversified Fixed Income
31 years of investment experience
3 years at Eaton Vance
Henry Peabody, CFA
Co-Portfolio Manager
15 years of investment experience
3 years at Eaton Vance

Benchmark

Bloomberg Barclays U.S. Government/Credit Bond Index or customized for client