Value Core

Investment Objective

The Value Core strategy seeks to outperform the benchmark by 100 basis points over a market cycle while giving special consideration to certain sustainability criteria.


The strategy uses a value-driven approach and seeks to generate return by investing in a portfolio of investment grade, fixed income securities. The strategy seeks to add value by capitalizing on imbalances in the relationships among sectors and individual bonds. We believe that investing in undervalued sectors and bonds and selling expensive ones using a relative value assessment is the ideal process to capture value.

The strategy typically invests in US dollar-denominated fixed income securities including governments, corporate bonds, securitized bonds, sovereign and supranational entities, as well as municipal bonds. The strategy is duration neutral to the benchmark. It is our view that interest rate forecasting is not a reliable source of returns and thus we focus our efforts on delivering alpha through sector rotation and security selection.