High Yield Fixed Income

The GIA High Yield Fixed Income strategy consists of broadly diversified U.S. dollar denominated portfolios of predominantly U.S. and developed economy domiciled companies. The strategy focuses on securities rated below investment grade or investment grade, and whose yields are high for their credit quality. The securities universe includes U.S. and developed market high yield, emerging markets corporate and quasi-sovereign debt, investment grade corporate bonds and other income-oriented securities.

Key Attributes

  • Bottom-up, fundamentally-driven investment approach
  • Credit research focused on creditworthiness and relative value.
  • Limited exposure to macro risks (interest rates, currency)
  • Apply macroeconomic and geopolitical overlay
  • Risk factor analysis guides portfolio exposures.
  • Active risk management and portfolio review
  • Average credit quality BB/B
  • Currency: U.S. dollars
GIA-High-Yield-Fixed-Strategy-Overview
Fact Sheet

Dancing Waves of Light

The aurora is born when energized particles are emitted from the sun’s corona creating a solar wind that slams into Earth’s upper atmosphere at speeds of up to 45 million mph. The Earth’s magnetic field deflects the particles toward the poles. The bright colors of the northern and southern lights are determined by the chemical composition of the Earth’s atmosphere with nitrogen molecules producing red and oxygen molecules producing green. A cinematic atmospheric phenomenon these dancing waves of light continue to dazzle scientists and sky-watchers alike.