Global Core Full Discretion

Investment Objective

Exceed the benchmark return by 150 basis points annually over the course of a market cycle while approximating benchmark risk.

Investment Style

Construct a portfolio using global fixed-income markets and currencies. Added value is sought through country and currency allocation, sector rotation, duration and yield curve management, as well as issue selection. Portfolio risk is managed through broad diversification across markets/sectors, duration management and active hedging of currency exposure.

Investment Vehicles

Separate Account: Contact your CSE or call 1-626-844-9400
Commingled Vehicle Available

Performance as of September 30, 2017

Returns for periods greater than one year are annualized. Please see the Performance Disclosure for more information.


Strategy AUM: Total Global Core Full Discretion Assets:
US$9.8 billion1 (as of June 30, 2017)
Benchmark: Bloomberg Barclays Global Aggregate Bond Index (USD Hedged)*
Inception Date: 01 Apr 01

Sector Allocation as of June 30, 2017

Global Core Full Discretion | Sector Allocation as of June 30, 2017
Note: Sector allocation includes look-through to any underlying commingled vehicles if held. All weightings are a percentage of total market value. A negative cash position may be reported, which is primarily due to the portfolio's unsettled trade activity. Data may not sum to 100% due to rounding.

Portfolio Characteristics as of June 30, 2017

Global Core Full Discretion | Portfolio Characteristics as of June 30, 2017
Past performance is not indicative of future investment results, the value of any investment can fall as well as rise.
Includes all Global Core and Global Core Full Discretion assets under management.
* Represented by Global Core Full Discretion (USD Hedged) Composite.