The Amundi Pioneer Multi-Sector Fixed Income Strategy seeks to outperform the Index over a three-to-five year period by 1.5% to 2.0% per annum with a normalized tracking error of 2.0% to 4.0%.

                         

                              

                        

                       

The Amundi Pioneer's Multi-Sector Fixed Income Strategy takes an active, value-driven approach, investing across a wide range of global fixed income asset classes. This approach can yield higher returns than the US core, investment grade strategy while seeking to limit volatility, due to the diversification of non-investment grade and global fixed income sectors. Asset allocation and security selection are the primary alpha sources, with additional contributions from interest rate and currency factors.

1Diversification does not guarantee a profit or protect against a loss.

Ken Taubes

Executive Vice President
Chief Investment Officer of the US Investment Management
Portfolio Manager 

Biography

Andrew Feltus, CFA

Managing Director
Co-Director of High Yield
Portfolio Manager 

Biography

Jon Scott, CFA

Vice President
Portfolio Manager

Biography

Overview

  • Employs active asset allocation and bottom-up security selection as key drivers of alpha
  • Seeks to exploit low correlations of global fixed income and non-investment grade debt markets with US investment grade markets
  • Focuses on protection against permanent impairment of capital
  • Targets duration of 3 to 7 years, typically +/- 2 years compared to benchmark

PLEASE NOTE: The Internal Guidelines referenced do not necessarily represent prospectus/statutory limitations. These internal guidelines are used as guidance in the daily management of the Portfolio’s investments. These guidelines are subject to change and should not be relied upon as a long term view of the Portfolio’s exposures, limitations, and/or risks.

Why Amundi Pioneer?

The strategy is managed within a strong fixed income investment culture focused on sound, fundamental research. Key features of the Amundi Pioneer Multi-Sector Fixed Income Strategy include:

  • Value approach: Assesses relative value across a broad range of global fixed income sectors, seeking strong total returns by investing in mispriced sectors and securities
  • Broad diversification1: Expands opportunity set by investing in benchmark and non-benchmark sectors, increasing potential for higher returns, while diversifying risk through lower correlations of non-investment grade and global sectors with US investment grade sectors
  • Active, dynamic asset allocation: Overweights sectors strategically that offer attractive relative value, with particular focus on credit sectors where Amundi Pioneer has core competency
  • Downside risk focus: Strives to mitigate loss by avoiding at-risk sectors and securities, and aims to avoid principal loss in rising interest rate environments through active asset allocation to reduce exposure to the most interest rate-sensitive sectors
  • Experienced, stable team and track record:  Boasts approximately 30 years of experience among the portfolio managers and averages over 20 years of experience among the Fixed Income team
  • No portfolio manager departures since the Strategy's inception in 1999

1Diversification does not guarantee a profit or protect against a loss.