This strategy seeks to achieve results in excess of its benchmark through an active approach consisting of duration management, sector rotation, and credit selection. The portfolio is primarily invested in U.S. investment grade corporate fixed income securities with intermediate-term maturities. Greenwood Capital's Investment Team uses a quantitative approach in analyzing macroeconomic variables that forms the basis for its interest rate outlook. This information, along with relative value of yield curve positioning, results in a duration target ranging from +/- 25% of the benchmark. The next variable in the process is the construction of subsector weightings within the corporate bond sector through a relative value analysis. Finally, individual securities are selected based on a bottom-up relative value analysis. The resulting portfolio has characteristics that are well diversified across the corporate bond sector, maturity, and ratings spectrums.

Asset Style: Intermediate Credit
Benchmark: Barclays Intermediate Credit Index
Inception Date: March 31, 2010
Average Number of Positions: 20 - 40
Average Maturity: 3.20
Average Duration: 2.92
Average Rating: A2 / A
Data Provided as of: March 31, 2017