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 12/31/2022)
wdt_ID | Name | Value |
---|---|---|
1 | Average Maturity | 3.60 yrs. |
2 | Duration | 3.10 |
3 | Coupon | 3.99% |
4 | Yield to Maturity | 6.63% |
5 | Current Yield | 4.34% |
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 a fixed 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 12/31/2022)
Risk Statistics
(period ended 12/31/2022)
Annualized Returns
(period ended 12/31/2022)
wdt_ID | Period | CAM Gross | CAM Net | Weighted Bloomberg Index |
---|---|---|---|---|
1 | YTD | -7.03 | -7.27 | -8.03 |
2 | 1 Year | -7.03 | -7.27 | -8.03 |
3 | 3 Years | 0.41 | 0.15 | -0.19 |
4 | 5 Years | 2.05 | 1.76 | 1.80 |
5 | 10 Years | 1.90 | 1.58 | 2.78 |
6 | Inception | 3.66 | 3.31 | 4.63 |
Risk Statistics
(period ended 12/31/2022)
wdt_ID | Period | Standard Deviation CAM SD | Standard Deviation Weighted Bloomberg Index | Sharpe Ratio CAM SD | Sharpe Ratio Weighted Bloomberg Index |
---|---|---|---|---|---|
1 | 3 Yrs. | 6.81 | 8.07 | -0.05 | -0.11 |
2 | 5 Yrs. | 5.61 | 6.78 | 0.14 | 0.08 |
3 | 10 Yrs. | 4.69 | 5.26 | 0.24 | 0.38 |
4 | Inception | 5.47 | 6.49 | 0.42 | 0.50 |
Maturity Distribution
Duration Distribution
Industry Distribution
Credit Quality Distribution
wdt_ID | Type | Value |
---|---|---|
1 | Aaa | 0.60 |
2 | Aa | 4.90 |
3 | A | 31.20 |
4 | Baa | 19.50 |
5 | Ba | 15.70 |
6 | B | 24.30 |
7 | Caa | 3.70 |
8 | Ca | 0.00 |
9 | < C | 0.00 |
10 | NR | 0.10 |
*Moody’s rating organization