Multi Credit

Unconstrained total-return fixed income strategy seeks to deliver attractive risk-adjusted returns in all market environments


The Multi Credit strategy targets higher allocation to sub-investment grade credits than the Core/Core Plus strategies.

 

Extensive Research Capabilities

Our Multi Credit strategy aims to target the higher yielding sectors of the market through unlocking value in complex and underfollowed transactions, while performing rigorous credit risk analysis in an attempt to mitigate risk.

Opportunistic Positioning

Active management is a key element of our strategy. Our Multi Credit portfolios are focused in sectors and securities with the most attractive absolute and relative value. 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. The strategy’s asset allocation is constantly monitored and tactically adjusted to take advantage of changing macroeconomic conditions.

Solution for Low Yield Environment

Currently, yields for traditional fixed income securities are at historically low levels. 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.

With our expertise and extensive research capabilities, we seek to uncover value in under-researched market segments and help investors meet their yield and return objectives without assuming excessive credit or duration risk.

Low Correlation

Our investment approach has produced attractive returns that have had low correlation to traditional fixed income markets, making our strategy an excellent complement within a multi-manager framework.

Objectives-Driven Approach

Given the diversity of the fixed income sectors and Guggenheim’s expertise with various types of institutional investors, customizing portfolios to meet the complex challenges of our clients is a core competency.

Peer Rankings*

 

Multi Credit Composite Returns*

Top 8% of Competitor Universe
Since Inception


Related Fixed Income Strategies


Fixed-Income Investment Philosophy and Process

 

Key Investment Professionals

Anne Walsh, CFA

Assistant Chief Investment Officer, Fixed Income

James Michal

Portfolio Manager

Steven Brown, CFA

Portfolio Manager


Contact Us

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

SEND US AN EMAIL

 

Important Disclosures

*As of 06.30.2016. Multi Credit ranking based on gross returns for Guggenheim’s Multi Credit Composite versus 51 competitors in the eVestment Alliance Custom Multi Credit universe. For the last 1-, 3-, 5- and 7-year periods, Multi Credit ranked in the top 37%, 17%, 10% and 8%, respectively, versus 126, 107, 86 and 65 competitors, respectively. Data taken from eVestment Alliance on 08/24/2016. Guggenheim Investments composite peer rankings represent percentile rankings which are based on monthly gross of fee returns and reflect where those returns fall within the indicated eVestment Alliance (EA) universe. EA provides third party databases, including the institutional investment database from which the presented information was extracted. The EA institutional investment database consists of over 1,500 active institutional managers, investment consultants, plan sponsors, and other similar financial institutions actively reporting on over 10,000 products. Only information regarding full year performance and rankings is presented as Guggenheim Investments believes performance for a full year period is an important factor. Additional information regarding EA rankings for year to date and since inception performance of the composites is available on EA’s website. Please see the disclosure page for more information about the rankings presented above.

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 Investment Advisors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Real Estate, LLC, GS GAMMA Advisors, LLC, Guggenheim Partners Europe Limited and Guggenheim Partners India Management.