Short Duration Corporate Bonds
Strategy Overview
Account Minimum: $250,000 | Launch of Strategy: June 1, 2004
The strategy is designed for investors interested in a shorter maturity profile which targets an allocation of 50% Investment Grade and 50% High Yield securities in one portfolio. A bottom-up approach identifies investment opportunities that represent the most attractive value with strong prospects for consistent income and growth. The overall average credit rating objective is Baa3 with a duration target of 3.
We access over 30 institutional broker/dealers seeking competitive bids and offerings. This trading network provides all of our clients with best pricing. A strict sell discipline is employed within the strategy.
Portfolio Statistics
(as of 3/31/2024)
wdt_ID | Name | Value |
---|---|---|
1 | Average Maturity | 2.80 |
2 | Duration | 2.30 |
3 | Coupon | 4.16% |
4 | Yield to Maturity | 5.77% |
5 | Current Yield | 4.30% |
6 | Target Diversification | 25-30 Issues |
7 | Average Credit Target | BAA3 |
Resources
Short Duration Brochure
Short Duration Profile
Short Duration Client Agreement
CAM Strategy Guide
Diversified Approach
The objective is to provide a diversified approach to the corporate bond market that can perform in various environments within the context of a duration target of 3.
Enhanced liquidity & safety
By investing only in bonds with an initial issue size generally in excess of $100,000,000.
Shorter Maturity
A shorter maturity profile which blends an allocation of 50% Investment Grade and 50% High Yield in one portfolio..
Diversified Portfolio
The portfolio is diversified across 20 – 30 equal weighted issues and generally limited to a maximum of 15% per industry group.
Established Companies & Industries
Emphasis on established industries leads us to avoid sectors that have precarious operating profiles.
Bottom Up Approach
A bottom-up approach identifies investment opportunities that represent the most attractive value with strong prospects for consistent income and growth.
Strategy Data
Calendar Year Returns (Gross)
Annualized Returns
(period ended 3/31/2024)
Risk Statistics
(period ended 3/31/2024)
Annualized Returns
(period ended 3/31/2024)
wdt_ID | Period | CAM Gross | CAM Net | Weighted Bloomberg Index |
---|---|---|---|---|
1 | YTD | 1.34 | 1.28 | 1.03 |
2 | 1 Year | 6.70 | 6.43 | 8.06 |
3 | 3 Years | 1.04 | 0.79 | 1.33 |
4 | 5 Years | 3.02 | 2.74 | 3.03 |
5 | 10 Years | 2.23 | 1.92 | 3.20 |
6 | Inception | 3.88 | 3.53 | 4.88 |
Risk Statistics
(period ended 3/31/2024)
wdt_ID | Period | Standard Deviation CAM SD | Standard Deviation Weighted Bloomberg Index | Sharpe Ratio CAM SD | Sharpe Ratio Weighted Bloomberg Index |
---|---|---|---|---|---|
1 | 3 Yrs. | 5.10 | 5.84 | -0.36 | -0.25 |
2 | 5 Yrs. | 5.68 | 6.81 | 0.17 | 0.14 |
3 | 10 Yrs. | 4.74 | 5.42 | 0.18 | 0.33 |
4 | Inception | 5.36 | 6.37 | 0.43 | 0.51 |
Maturity Distribution
Duration Distribution
Industry Distribution
Credit Quality Distribution
wdt_ID | Type | Value |
---|---|---|
1 | Aaa | 0.60 |
2 | Aa | 3.50 |
3 | A | 30.10 |
4 | Baa | 20.60 |
5 | Ba | 18.70 |
6 | B | 22.40 |
7 | Caa | 2.20 |
8 | Ca | 1.90 |
9 | < C | 0.00 |
10 | NR | 0.00 |
*Moody’s rating organization