Strategy Objectives
Goal
Generate income and preserve capital
Primary Objective
Targeted maturities less than 10 years
Secondary Objective
We build diversified fixed income portfolios with careful analysis and execution
Risk Mitigation
We reduce 2 primary risks inherent in bonds. Interest Rate Risk: Maintain limited maturity risk Credit Risk: Thoughtful diversification
Setting Expectations
We Do...
Identify healthy companies and their catalysts
Own individual bonds with the intent to hold to maturity
Perform dedicated in-house credit research
Seek to capitalize on credits we believe are misrated
Invest prudently and opportunistically
We Don't...
Look like the index
Purchase bonds systematically
Take on excessive credit risk
Build model-based portfolios
Overpay for companies we like
A Cohesive Team
Richard Ryskalczyk, CFA
Co-Managing Partner, Lead Portfolio Manager
Aaron VandeGuchte, CFA
Partner, Chief Equity Analyst
Mark Larry, CFA
Partner, Senior Equity Analyst
