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 obligations of the U.S. government and its agencies with maturities of 5 years or less. 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 government sector through a relative value analysis. Credit selection is not as important given the nature of the issuers in this product. There are, however, government-backed issuers that offer relative value to traditional debt of the Treasury and require on-going due diligence. The resulting portfolio has characteristics that are well diversified across sector and maturity spectrums.
|Asset Style:||Short Term Government Fixed Income|
|Benchmark:||Barclays 1-3 Year Government Index|
|Inception Date:||December 31, 1998|
|Average Number of Positions:||20 - 40|
|Average Rating:||Aaa / AA+|
|Data Provided as of:||March 31, 2017|