(804) 353-4500tswinfo@tswinvest.com
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Core Plus Fixed Income
Main Street Station, Historical Landmark
Shockoe Bottom District; Richmond, VA
Main Street Station, Historical Landmark
Shockoe Bottom District; Richmond, VA
About Core Plus Fixed Income
Investment Objective
Over a full market cycle, the Income team seeks to provide a return, net of our management fee, that outperforms the Bloomberg Barclays U.S. Aggregate Index.
Investment Overview
TSW believes inefficient markets in fixed income favor active management and that income is the primary driver of fixed income returns over market cycles. As a result, the team attempts to add value by constructing a portfolio that generates a higher yield versus the benchmark while maintaining an attractive risk/reward profile. The team combines fundamental credit work, relative value analysis, and a macroeconomic overlay in portfolio construction.
Strategy Highlights
Repeatability: a tenured team executing a consistently applied process
A tenured team with over a decade of averaged experience working together
A time-tested approach
- Combining bottom-up credit analysis, relative-value, and a macro economic overlay
- Seeking to generate a higher yield versus the benchmark while maintaining an attractive risk/reward profile
- Thoughtful capacity considerations afford opportunities to make meaningful investments in opportunities often overlooked by larger-sized mandates
- Up to 20% of the portfolio may be invested in non-investment grade credit
ASSET CLASS / STYLE
Intermediate Bond / Value
Composite AUM
$3.2M
BENCHMARK
Bloomberg U.S. Aggregate Index
vehicles available
Separate Account
Sub-Advised Mutual Fund (TSWFX) TSW Core Plus Bond1
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Core Plus Fixed Income Trailing Performance
As of
September 30, 2024
Calendar year performance reflects past 10 years of data available.
Benchmark: Bloomberg Aggregate Bond. The Bloomberg U.S. Aggregate Bond Index is a broad-based flagship benchmark that measures the investment grade, U.S. dollar denominated, fixed-rate taxable bond market. The Index includes Treasuries, government-related and corporate securities, fixed-rate agency MBS, ABS and CMBS (agency and non-agency). Benchmark Source: FactSet
Periods less than one year are not annualized. Performance represents the Core Plus composite. Performance is shown gross and net of management fees and includes reinvestment of dividends and other income. Gross returns will be reduced by investment advisory fees and other expenses that are incurred in the management of the account. Net of fee performance was calculated using the actual management fees charged. These figures have been rounded to the nearest hundredth. Past performance is no guarantee of future results. It is not possible to invest directly in an index. Performance disclosures can be found here.
Please see Risk Disclosures for important information.
Calendar year performance reflects past 10 years of data available.
Benchmark: Bloomberg Aggregate Bond. The Bloomberg U.S. Aggregate Bond Index is a broad-based flagship benchmark that measures the investment grade, U.S. dollar denominated, fixed-rate taxable bond market. The Index includes Treasuries, government-related and corporate securities, fixed-rate agency MBS, ABS and CMBS (agency and non-agency). Benchmark Source: FactSet
Periods less than one year are not annualized. Performance represents the Core Plus composite. Performance is shown gross and net of management fees and includes reinvestment of dividends and other income. Gross returns will be reduced by investment advisory fees and other expenses that are incurred in the management of the account. Net of fee performance was calculated using the actual management fees charged. These figures have been rounded to the nearest hundredth. Past performance is no guarantee of future results. It is not possible to invest directly in an index. Performance disclosures can be found here.
Please see Risk Disclosures for important information.
Meet Our Team
William Bellamy, CFA
Portfolio Manager
William Bellamy, CFA
Director of Income Strategies and Portfolio Manager
Bill is a graduate of Cornell University, BS and Duke University, MBA. He previously worked for Merrill Lynch Capital Markets as an Assistant Vice President, Clayton Brown & Associates as a Vice President, First Union Capital Markets as a Vice President and Trusco Capital Management as a Vice President. He holds the Chartered Financial Analyst® designation and is registered as an Investment Adviser Representative. Check the Background of this Investment Professional here.
bbellamy@tswinvest.com
David McMackin, CFA
Research Analyst
David McMackin, CFA
Research Analyst - Income Strategies
David is a graduate of Virginia Polytechnic Institute & State University, BS. He previously worked for Trusco Capital Management as a Portfolio Analyst and Crestar Asset Management as a Trading Assistant. He holds the Chartered Financial Analyst® designation.
dmcmackin@tswinvest.com
Charles Finley, CFA
Research Analyst
Charles Finley, CFA
Research Analyst - Income Strategies
Charles is a graduate of the University of Delaware, BS, and Wake Forest University, MBA. He previously worked for The Trust Company of Virginia as a Fixed Income Portfolio Manager, Sterne Agee as a Credit Analyst, and BB&T Capital Markets as a Credit Analyst. He holds the Chartered Financial Analyst® designation.
cfinley@tswinvest.com
1Investing involves risk including loss of principal. For more information pertaining to the mutual fund products above, including investment objectives, risks, charges and expenses, obtain a prospectus. Read the prospectus carefully before investing or sending money. Neither this material nor any accompanying oral presentation or remarks by a representative of the distributors is intended to constitute a recommendation of the funds or a determination of suitability for any investor. Important information about the Fund can be found in the prospectus or summary prospectus which can be obtained at wwww.perpetual.com or by calling 1‑866‑260‑9549 or 1‑312‑557‑5913. Please read the prospectus or summary prospectus carefully before investing. The Perpetual Americas Funds are advised by Perpetual Americas Funds Services and distributed through Perpetual Americas Funds Distributors, LLC, member FINRA. The Perpetual Americas Funds are not FDIC‑insured, may lose value, and have no bank guarantee.
Data as of 09/30/2024
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CONTACT US
tswinfo@tswinvest.com(804) 353-45006641 West Broad StreetSuite 600
Richmond, VA 23230
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