Fixed Income

A Disciplined Investment Process Focuses on Relative Value and Risk Management

The philosophy that guides the management of our fixed-income portfolios is built on traditional principles. Our clearly defined and consistently applied investment philosophy provides us with sustainable competitive advantages in the marketplace. This philosophy is rooted in one basic fact: Over the past 20 years, approximately 90% of the return in the broad investment-grade fixed-income market (as represented by the Barclays Capital Aggregate Index) is derived from cash flows. Accordingly, we believe superior long-term returns with low risk can be achieved by targeting investments with stable cash flows across the yield curve.

In managing $5 billion, we maintain a long-term focus that employs a rigorous price discipline. We do so by constantly evaluating various entities and their capital structure, targeting securities that offer superior yields while avoiding unnecessary risk.

Our investments include Treasuries, Agency Notes, highly-rated Corporates, Asset-Backed, Commercial and Mortgage-Backed Securities.

SGIA's extensive understanding of credit also enables us to significantly rely on structured products to generate superior near and long-term performance without increasing risk.

In gaining exposure across these various income investments, we are constantly refining and balancing security selection with sector rotation and yield-curve positioning with a focus on volatility and duration.

Our key funds, which have established long-term performance records, include:

• Core
• Alpha Plus
• Intermediate Aggregate
• Intermediate Government/Credit
• Long Duration

Our clients include leading city and state retirement funds, well-known corporations, Taft/Hartley industry funds, and major endowments and foundations, including major research universities.

We have built this prominent client list through experience, insight, discipline and consistent performance. Our decision-making process takes full advantage of individual insights within a team-oriented culture. These factors drive the achievement of the competitive returns we seek for our clients. The team in place has extensive experience in fixed income portfolio management, equity analysis, credit and mortgage structure research and bond trading.

ESG Investment Policy

View our Fixed Income Portfolio Management Team