Cincinnati Asset Management is a boutique, fixed income manager specializing in U.S. Corporate Bonds. Established in 1989 to build and manage high performance fixed income portfolios for individuals and institutions, our conservative and disciplined approach stresses preservation of capital, diversification, and high investment income.
We have specialized in the management of corporate fixed income securities for our clients for over 30 years. We are an independent investment adviser registered with the SEC and structured as a corporation that is employee owned. The strength of our Firm lies with our niche focus, commitment to our investment process and depth of experience of our Portfolio Teams, Managing Directors and employees.
We have specialized in the management of corporate fixed income securities for our clients for over 30 years. We are an independent investment adviser registered with the SEC and structured as a corporation that is employee owned. The strength of our Firm lies with our niche focus, commitment to our investment process and depth of experience of our Portfolio Teams, Managing Directors and employees.
Services
Our Portfolio Management team's perspective on the High Yield strategy for the prior quarter. Our Portfolio Management team's perspective on the Investment Grade strategy for the prior quarter. The Bloomberg Barclays US Corporate Index widened by 1 basis point to 0.87% over Treasuries. The A Rated Corporate Credit Spread increased by 1 basis point to 0.69%.
As conservative investors, our choice to manage corporate bonds, exclusively, is the result of capitalizing on the structural inefficiencies of the corporate bond market as well as maximizing favorable risk/reward scenarios that exist within domestic fixed income markets. CAM follows a conservative "bottom-up value" investment discipline that seeks out companies that are currently out of favor with investors, but poised to improve.
For investors seeking potentially greater returns, this strategy focuses on bonds rated in the top two rating categories (Ba & B). Securities rated Caa and lower are not eligible for purchase. Our objective is to achieve greater returns than might be available in the investment grade universe while avoiding the greater risk associated with lower credit quality securities (Caa and lower).
Long-term investors have enjoyed the benefits of diversifying their bond portfolios across all credit qualities within the U.S. corporate bond asset class. Blending a High Yield bond strategy with an Investment Grade strategy historically has lowered overall volatility and increased long-term returns.
Designed for the more conservative investor interested in an intermediate, investment grade corporate strategy that provides a premium yield to Treasury securities. Bonds must be rated investment grade by at least one of the credit rating agencies to be considered for purchase. In the event of a downgrade, the security may be held if we anticipate credit improvement in the future.
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