US Long Duration Full Discretion

Investment Objective

Exceed the benchmark return by 100 basis points annually over the course of a market cycle while approximating benchmark risk.

Investment Style

Construct a portfolio predominantly using governments and corporates with duration targets in excess of eight years.This strategy allows for opportunistic investments in high-yield, structured securities, emerging markets and non-dollar securities. Derivatives may be used to enhance portfolio strategy and control risk. Value can be added through sector rotation, yield curve positioning, issue selection and duration management.

Investment Vehicles

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

Performance as of March 31, 2017

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

Historical Performance: By Calendar Year

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Snapshot

Strategy AUM: Total US Long Duration Full Discretion Assets:
US$16.1 billion (as of March 31, 2017)
Benchmark: Bloomberg Barclays U.S. Long Govt/ Credit Bond Index*
Inception Date: 01 Jan 94
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Sector Allocation

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Portfolio Characteristics

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Product Commentary

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Past performance is not indicative of future investment results, the value of any investment can fall as well as rise.
¹ Notional market value represents derivatives notional market value excluding interbank derivatives.
* Represented by the US Long Duration Government/Credit Full Discretion Composite.