March 10, 2022
Guggenheim Macro Opportunities Fund Earns 2022 Refinitiv Lipper Fund Award for Consistent Risk-Adjusted Performance
NEW YORK, NY – Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners, today announced that its Guggenheim Macro Opportunities Fund (GIOIX) has won a 2022 Lipper Fund Award for its risk-adjusted performance over 10 years in the Alternative Credit Focus classification.
Lipper Awards recognize individual mutual funds that have outperformed peers in terms of risk-adjusted, consistent return based on investment results as of November 30, 2021. GIOIX launched on November 30, 2011, and celebrated its ten-year performance anniversary in November 2021.
“The 2022 Lipper Find Award reflects our ongoing commitment to managing risk and generating consistent, attractive returns for our investors while further validating our distinctive investment process,” said Scott Minerd, Chairman of Investments and Global CIO. “This team-based process is designed to encourage collaboration and communication and mitigate the cognitive biases identified by studies in behavioral finance. The fact that this is a risk-adjusted award further validates our approach. I want to congratulate our team on this well-deserved recognition and thank our clients for putting their trust in us.”
The Guggenheim Macro Opportunities Fund seeks to provide total return, comprised of current income and capital appreciation. Unconstrained to a benchmark, the fund has the flexibility to invest across a broad array of fixed-income sectors and may opportunistically allocate to other asset classes to potentially enhance return or mitigate risk. The Fund uses a relative value approach to investing with overall risk targets informed by broader macro views.
Anne Walsh, Chief Investment Officer for Fixed Income, said, “Revisiting the different market conditions through which we managed over the past decade, it reminds me of the advantages of active management and how alternative approaches to fixed income strategy can generate positive results. Active fixed-income managers have the ability to position their portfolios as risks emerge and trading opportunities develop in a way that is not permissible for a passive or index-constrained strategy. Thinking beyond a traditional Core allocation is crucial in this ever-shifting market environment.”
Steve Brown, Assistant Chief Investment Officer, added, “The ability to move beyond the benchmark in our Macro Opportunities Fund to focus on relative value not only expands the possible investment universe to include underfollowed sectors, the unconstrained approach also enables us to diversify and try to avoid problem sectors to maximize risk-adjusted returns.”
Guggenheim’s investment process is built on a team-based active management process that is designed to mitigate cognitive biases and result in better decisions. The firm maintains more than 200 fixed-income investment professionals whose responsibilities are disaggregated into four specialized teams: The Macroeconomic and Investment Research group provides economic, policy, and market forecasts for the firm; Sector teams make specific security selections based on robust, bottom-up, fundamental analyses; the Portfolio Construction Group delivers model asset allocations and risk analysis; and Portfolio Managers execute investment strategies based on team inputs and portfolio mandates.
About Guggenheim Investments
Guggenheim Investments is the global asset management and investment advisory division of Guggenheim Partners and has more than $271 billion* in total assets across fixed income, equity and alternative strategies. We focus on the return and risk needs of insurance companies, corporate and public pension funds, sovereign wealth funds, endowments and foundations, wealth managers and high net worth investors. We have a track record of delivering results through innovative solutions. Our 260+ investment professionals perform rigorous research to understand market trends and identify undervalued opportunities in areas that are often complex and underfollowed. This approach to investment management has enabled us to deliver innovative strategies providing diversification and attractive long-term results.
Media Contact
Gerard Carney
Guggenheim Partners
917-703-6368
Gerard.Carney@guggenheimpartners.com
About Refinitiv Lipper
With a track record of over 50 years of independent content, Refinitiv Lipper was the first to develop fund classifications that place funds in their respective peer group. Refinitiv Lipper is the go-to resource for fund performance research, providing premium data, fund ratings, analytical tools and global commentary through specialised product offerings.
About the Lipper Fund Awards
Refinitiv Lipper Fund Awards are granted annually to the fund in each Lipper classification that achieves the highest score for Consistent Return, a measure of its historical risk-adjusted returns, relative to peers. The Best Alternative Credit Focus Fund 10-year award is granted to the fund in the Alternative Credit Focus category with the highest Lipper Leader score for Consistent Return as of 11.30 of the prior year, among 32 funds for the 10-year period in 2021. Refinitiv Lipper Fund Awards, ©2022 Refinitiv. All rights reserved. Used under license
The Refinitiv Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the Refinitiv Lipper Fund Award. The calculation periods are through the end of November of the respective evaluation year. The Consistent Return measure is a richer risk-adjusted performance measure than others currently available in the marketplace. It takes into account both short- and long-term risk-adjusted performance relative to fund classification. The measure is based on the Effective Return computation. Effective Return is a risk-adjusted return measure that looks back over a variety of holding periods (measured in days, weeks, months and/or years).
Lipper Ratings for Consistent Return reflect funds’ historical risk adjusted returns, relative to peers. Ratings for Consistent Return are computed for all Lipper classifications with five or more distinct portfolios and span both equity and fixed-income funds (e.g., large cap core, General U.S. Treasury, etc.). The ratings are subject to change every month and are calculated for the following periods: three-year, five-year, 10-year, and overall. The overall calculation is based on an equal-weighted average of percentile rankings of the Consistent Return metrics over three-, five- and 10-year periods (if applicable). The highest 20% of funds in each classification are named Lipper Leaders for Consistent Return, the next 20% receive a rating of 4, the middle 20% are rated 3, the next 20% are rated 2 and the lowest 20% are rated 1.
Past performance is no guarantee of future results. For current fund performance, please visit our website at guggenheiminvestments.com
This material is not intended as a recommendation or as investment advice of any kind, including in connection with rollovers, transfers, and distributions. Such material is not provided in a fiduciary capacity, may not be relied upon for or in connection with the making of investment decisions, and does not constitute a solicitation of an offer to buy or sell securities. All content has been provided for informational or educational purposes only and is not intended to be and should not be construed as legal or tax advice and/or a legal opinion. Always consult a financial, tax and/or legal professional regarding your specific situation.
This Fund may not be suitable for all investors. • The Fund’s market value will change in response to interest rate changes and market conditions among other factors. In general, bond prices rise when interest rates fall and vice versa. • The Fund’s exposure to high yield securities may subject the Fund to greater volatility. • The intrinsic value of the underlying stocks in which the Fund invests may never be realized or the stock may decline in value. • When market conditions are deemed appropriate, the Fund may leverage to the full extent permitted by its investment policies and restrictions and applicable law. Leveraging will exaggerate the effect on net asset value of any increase or decrease in the market value of the Fund’s portfolio. • The use of short selling involves increased risks and costs. You risk paying more for a security than you received from its sale. Theoretically, stocks sold short have the risk of unlimited losses. • The Fund may invest in derivative instruments, which may be more volatile and less liquid, increasing the risk of loss when compared to traditional securities. Certain of the derivative instruments are also subject to the risks of counterparty default and adverse tax treatment. • Instruments and strategies (such as borrowing transactions and reverse repurchase agreements) may provide leveraged exposure to a particular investment, which will magnify any gains or losses on those investments. • Investments in reverse repurchase agreements expose the Fund to the many of the same risks as investments in derivatives. • The Fund’s investments in other investment vehicles subject the Fund to those risks and expenses affecting the investment vehicle. • The Fund’s investments in foreign securities carry additional risks when compared to U.S. securities, due to the impact of diplomatic, political or economic developments in the country in question (investments in emerging markets securities are generally subject to an even greater level of risks). • Investments in syndicated bank loans generally offer a floating interest rate and involve special types of risks. • A highly liquid secondary market may not exist for the commodity-linked structured notes the Fund invests in, and there can be no assurance that a highly liquid secondary market will develop. • The Fund’s exposure to the commodity markets may subject the Fund to greater volatility as commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates or factors affecting a particular industry or commodity such as droughts, floods, weather, embargos, tariffs and international economic, political and regulatory developments. • The Fund’s investments in municipal securities can be affected by events that affect the municipal bond market. • The Fund’s investments in real estate securities subject the Fund to the same risks as direct investments in real estate, which is particularly sensitive to economic downturns. • The Fund’s investments in restricted securities may involve financial and liquidity risk. • You may have a gain or loss when you sell your shares. • It is important to note that the Fund is not guaranteed by the U.S. government. • This Fund is considered nondiversified and can invest a greater portion of its assets in securities of individual issuers than a diversified fund. As a result, changes in the market value of a single security could cause greater fluctuations in the value of fund shares than would occur in a more diversified fund. • Please read the prospectus for more detailed information regarding these and other risks.
Read a fund’s prospectus and summary prospectus (if available) carefully before investing. It contains the fund’s investment objectives, risks, charges, expenses and other information, which should be considered carefully before investing. Obtain a prospectus and summary prospectus (if available) at www.guggenheiminvestments.com or call 800.820.0888.
* Guggenheim Investments AUM (assets under management) as of 12/31/2021. The assets include leverage of $20.7 billion. Because of rounding, totals may not equal 100%. Guggenheim Investments represents the following affiliated investment management businesses of Guggenheim Partners, LLC: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Corporate Funding, LLC, Guggenheim Partners Europe Limited, Guggenheim Partners Fund Management (Europe) Limited, Guggenheim Partners Japan Limited, GS GAMMA Advisors, LLC, and Guggenheim Partners India Management.
#51764