Taxable Short Term

People

James Bernard, CFA

Portfolio Manager

Jim Raimondo

Portfolio Manager

Jeremy Scacco

Portfolio Manager

Key Stats

Inception June 30, 2010
Benchmark Barclays US 1-3 Yr Aggregate
Account Min. $500K
Custodial Arrangements Available upon request

Philosophy

The Ancora Taxable Short Term Fixed Income Strategy strives to earn a higher return than today’s most conservative fixed income options with a core plus approach.  To accomplish this goal, Ancora’s fixed income management team seeks to add value through:

  • Active Sector Allocation: Active rotation between agency, government, investment grade corporate and mortgage backed bonds.
  • Dynamic Security Selection: Non-index eligible bonds of high credit quality issuers.
  • Yield Enhancements: When market conditions permit, and only with the knowledge of the client, we may add small amounts of short term, high yield exposure to the portfolio. 

We also understand the importance of liquidity in enhanced short term fixed income options and therefore maintain a duration in line with applicable benchmarks.

Process

  • Portfolio Construction: Typically 20-50 holdings per account focusing in on credit/duration/sector allocation decisions. The investment universe is primarily high quality, investment grade bonds.

  • Buy Discipline: We buy when price has dislocated from fundamentals relative to historical spreads.

  • Sell Discipline: We scale out of positions when price becomes stretched relative to historical spreads and when underlying credit fundamentals begin to deteriorate.

  • Risk Management: We maintain rigorous credit standards for the portfolio while seeking to maintain high levels of liquidity throughout varied market environments.

Performance

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To learn more, contact an Ancora advisor today >