Fixed Income

Investment Grade

MacKay Shields' investment grade fixed income investment philosophy is centered on our pursuit of consistent, superior rates of return with low volatility. As "Northwest Quadrant" investors, we are high risk-adjusted return managers who search for undervalued securities. We constantly assess relative value among all sectors of the bond market through our substantial experience and product expertise, while emphasizing the most attractive sectors of the market that are identified by our research. Duration is maintained within narrow bands around the benchmark to limit volatility. All MacKay Shields investment grade fixed income portfolios are shaped by a philosophy that seeks superior returns, primarily through active management of sectors and credit quality across the yield curve. Controlled duration shifts are used to limit the volatility of returns. Extensive quantitative research and credit analysis provide a framework for all policy development, investment decisions and risk management. This research supports our upfront risk analysis as well as attribution analysis of historical returns. By applying this rigorous process to all fixed income portfolios, we attempt to provide clients with enhanced returns and risk below the benchmarks with minimized risk.

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