Preservation of Capital
Cincinnati Asset Management is a boutique, fixed income manager specializing in U.S. Corporate Bonds. Established in 1989 to build and manage high performance fixed income portfolios for individuals and institutions, our conservative and disciplined approach stresses preservation of capital, diversification, and high investment income. We have specialized in the management of corporate fixed income securities for our clients for over 30 years. We are an independent investment adviser registered with the SEC and structured as a corporation that is employee owned. The strength of our Firm lies with our niche focus, commitment to our investment process and depth of experience of our Portfolio Teams, Managing Directors and employees.
Recent Insight
CAM Investment Grade Weekly Insights
Credit spreads drifted wider this week while major equity indices posted their 7th consecutive week of losses. The OAS on the Bloomberg US Corporate Bond Index closed Friday, the 20th of May at 149 after having closed the week prior at 141. This marked the widest close for the index in 2022. The 10yr Treasury […]
CAM High Yield Weekly Insights
Fund Flows & Issuance: According to a Wells Fargo report, flows week to date were -$1.1 billion and year to date flows stand at -$35.8 billion. New issuance for the week was $1.2 billion and year to date issuance is at $56.9 billion. (Bloomberg) High Yield Market Highlights U.S. junk bonds are headed for the […]
CAM Investment Grade Weekly Insights
It was another volatile week for risk assets, especially equities. The OAS on the Bloomberg US Corporate Bond Index closed Thursday, the 12th of May at 141 after having closed the week prior at 134. The 10yr Treasury closed the previous week at 3.13% and it is trading at 2.91% as we go to print […]
CAM Investment Grade Weekly Insights
One word can aptly describe this week: volatile. The OAS on the Bloomberg US Corporate Bond Index closed Thursday, the 5th of May at 134 after having closed the week prior at 135. Although the spread on the index was slightly tighter the performance effect was offset by higher Treasury yields. The 10yr Treasury closed […]
CAM Investment Grade Weekly Insights
It was an ugly week for risk assets. The OAS on the Bloomberg US Corporate Bond Index closed the week of April 29th at 135 after having closed the week prior at 132. The month of April is one that investors would like to forget; it was historically bad for credit and stocks were down […]
CAM Investment Grade Weekly Insights
Spreads drifted wider throughout the week and the tape is weak on Friday afternoon for credit and equites as we go to print. The OAS on the Bloomberg US Corporate Bond Index closed at 128 on Thursday, April 21, after having closed the week prior at 121. On Thursday, Federal Reserve Chairman Jerome Powell delivered […]
CAM High Yield Weekly Insights
Fund Flows & Issuance: According to a Wells Fargo report, flows week to date were $0.5 billion and year to date flows stand at -$28.0 billion. New issuance for the week was $6.0 billion and year to date issuance is at $49.1 billion. (Bloomberg) High Yield Market Highlights The U.S. junk bond market is […]
CAM High Yield Weekly Insights
Fund Flows & Issuance: According to a Wells Fargo report, flows week to date were -$3.9 billion and year to date flows stand at -$31.1 billion. New issuance for the week was $2.8 billion and year to date issuance is at $39.2 billion. (Bloomberg) High Yield Market Highlights U.S. junk-bond investors turned to fast-food […]
CAM High Yield Weekly Insights
Fund Flows & Issuance: According to a Wells Fargo report, flows week to date were -$2.4 billion and year to date flows stand at -$27.1 billion. New issuance for the week was $1.0 billion and year to date issuance is at $36.4 billion. (Bloomberg) High Yield Market Highlights U.S. junk bonds are poised to […]
CAM Investment Grade Weekly Insights
The trend of wider spreads was broken in a big way this week as credit is poised to finish the week meaningfully tighter. The OAS on the Bloomberg US Corporate Bond Index closed at 127 on Thursday, March 17, after having closed the week prior at 143. Spreads hit their widest levels of the year […]
Clients
Individuals
Individual investors benefit from the same disciplined approach we apply to the management of portfolios of our institutional clients. We buy/sell securities in institutional size that typically is more efficient than smaller retail purchases. The individual investor participates in these larger trades and enjoys the same pricing that the institutional client receives.
Institutional
We focus on the needs of institutional clients, including pension plans, endowments, charitable organizations, and insurance companies. Our strategic investment philosophy, rather than a tactical trading approach, assures that the longer term requirements of these institutions are being met through disciplined investing. We are also able to tailor a portfolio to meet specific investment objectives.
Approach
Our investment process concentrates in the U.S. Corporate Bond market and offers solutions to investors which span the entire spectrum of credit quality from Investment Grade to High Yield. In all cases fundamental credit research is a primary element of our portfolio management process. Our approach stresses preservation of capital, diversification and high investment income.
CAM follows a conservative “bottom-up value” investment discipline that seeks out companies that are currently out of favor with investors, but poised to improve. The primary focus is preservation of capital with a secondary, but extremely important, emphasis on total return. Our portfolios are not managed to a benchmark from a portfolio construction perspective, but do look to outperform respective benchmarks over a full market cycle with less volatility. We do not utilize interest rate anticipation tactics. We look to minimize the impact of macro-economic factors, such as interest rate risk, from the investment process by employing defensive maturity structure within the portfolio
Research
View our research materials, like white papers and yield-spread analysis, as well as our weekly insight.
Investment Solutions
High Yield
For investors seeking potentially greater returns, this strategy focuses on bonds rated in the top two rating categories (Ba & B). Securities rated Caa and lower are not eligible for purchase.
Investment Grade
Designed for the more conservative investor interested in an intermediate, investment grade corporate strategy that provides a premium yield to Treasury securities.
Short Duration
For investors interested in a shorter maturity profile which targets an allocation of 50% Investment Grade and 50% High Yield securities in one portfolio.
Broad Market
Combines the Investment Grade and High Yield strategies in an approximate 2/3 – 1/3 blend. It is designed for the investor who desires to achieve greater returns than the Investment Grade strategy while incurring less volatility than the High Yield strategy.
Short Duration : Investment Grade
Designed for investors interested in a shorter maturity profile but do not wish to hold any non-investment grade securities. The average maturity of the portfolio, once seasoned, is less than half of that of our core Investment Grade strategy.
CAMBX
The CAM Broad Market Strategic Income Fund provides an opportunity for long-term investors to find a conservative risk/reward balance that focuses on downside protection and total return.