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Core and Core Plus Fixed Income

Multi-sector approach designed to meet our clients’ core and core plus investment objectives

We build portfolios by focusing on the investment objectives of our clients rather than the weights of a generic benchmark. In 1999, we began managing Core Fixed Income portfolios for insurance companies, partnering with them to build investment solutions tailored to their unique objectives, including risk and asset-liability management, regulatory support, and rating agency support. This objectives-driven approach provided the foundation for our Core and Core Plus strategies, which we have expanded to meet the complex challenges faced by other institutional investors, including public and corporate pension plans and endowments and foundations.

Innovative Approach

We believe that capturing attractive yields, while remaining focused on the preservation of capital, is the surest path to superior investment results.

Our large fixed income team uses a fundamental credit-intensive investment process that incorporates our knowledge of issuers, structures, and industries. We invest across the full spectrum of the fixed income market, including asset-backed securities, investment grade and high yield corporates, bank loans, residential mortgage-backed securities, commercial mortgage-backed securities, and municipals. Many of the securities we research are not included in the Bloomberg U.S. Aggregate Index and are often overlooked by other investors.

Active management is a key element of our strategy. We employ opportunistic positioning at the sector and security level with a strong emphasis on relative value, rather than index weightings. Portfolios are constructed from the bottom up and positioned to reflect Guggenheim’s macroeconomic analysis and themes.


Solution to the "Core Conundrum"

Traditional core fixed income portfolios typically resemble the Bloomberg U.S. Aggregate Index. Today, this index consists primarily of low-yielding government-related debt, making it more difficult to meet total return targets.

Against this backdrop, many investors have simply lowered credit quality and extended duration to generate yield. While these investment shortcuts may produce short-term gains, they leave investors exposed to downside risk that can erode long-term returns.

At Guggenheim, we have the resources and expertise to seek to uncover value in under-researched areas that are not included in the Bloomberg U.S. Aggregate Index, including ABS and other structured securities and off-the-run credits. We believe this approach to portfolio construction may help generate higher yields without adding undue credit or duration risk.

Complementary Within a Multi-Manager Framework

Our track record, investment approach and asset allocation has shown over time that the strategy can be complementary within a multi-manager framework.

Sustainable Strategy

We believe that our Core Fixed Income strategy is a compelling solution in all environments and can help institutional investors navigate the challenges that likely lie ahead.

Key Investment Professionals

Steven Brown, CFA

Chief Investment Officer, Fixed Income, Guggenheim Partners Investment Management

Adam Bloch

Portfolio Manager

Contact Us

Contact Guggenheim Investments for more information about this strategy or to learn more about our capabilities.


Important Disclosures

Past performance is not a guarantee of future results. Investing involves risk, including the possible loss of principal. There is no guarantee that any investment strategy will achieve its investment objectives or is suitable for all investors. Diversification does not ensure profit nor protect against loss. Every asset class is subject to various risks that affect their performance in different market cycles. Fixed income investments are subject to certain risks including market, interest-rate, issuer, credit, and inflation risk. Equity investments are subject to market risk or the risk of loss due to adverse company and industry news, or general economic decline. Alternative investments are subject to market risk, currency risk, foreign investment risks, liquidity risks, higher fees and expenses, regulatory restrictions, and volatility due to speculative trading and use of leverage.

© Guggenheim Investments. All rights reserved.

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 Japan Limited, and GS GAMMA Advisors, LLC.