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Core Bond

Core Fixed Income

Strategy Goal
The strategy seeks to deliver consistent excess returns with modest tracking error relative to the Bloomberg U.S. Aggregate Bond Index.
Commentary
Summary
Strategy Details
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Strategy Highlights


Experienced, Tenured Team

Managed through a collaborative effort of over 80 investment professionals in portfolio management, credit research and trading.

Consistent, Time-Tested Results

A long history of delivering consistent, attractive absolute and risk-adjusted returns relative to the Bloomberg Aggregate Bond Index and peers in a wide range of environments.

Flexible Approach

An active, diversified strategy with the flexibility to capture opportunities across various sectors of the fixed income market, including investment grade corporates, agency mortgage-backed securities, and securitized credit.
Portfolio Highlights

  • A multisector intermediate-term bond strategy that typically includes allocations to U.S. Treasuries, Agencies, Agency MBS, ABS, CMBS, investment-grade corporate debt and U.S. dollar-denominated bonds of non-U.S. issuers.
  • Effective duration is typically maintained to within 1 year of the index.
  • Focused on identifying relative value through quantitative analysis and fundamental research.
  • Collaborative portfolio construction leverages collective firm-wide insights.
Vehicles Offered

Separate Account
open
Portfolio managed directly on behalf of an institutional client.

Private Funds
open
Pooled investment vehicle with periodic liquidity available to qualified purchasers.

Mutual Fund
open
Pooled investment vehicle available to individual and institutional investors.

Collective Investment Trust (CIT)*
open
Pooled investment vehicle offered by Wilmington Trust and sub-advised by Lord Abbett with daily liquidity available to certain pension investors.

The Investment Team

Professional Headshot of Robert Lee

Robert A. Lee

Partner & Co-Head of Taxable Fixed Income
34 Years of Experience
Professional Headshot of Andrew OBrien

Andrew H. O'Brien, CFA

Partner, Portfolio Manager
27 Years of Experience
Professional Headshot of Kewjin Yuoh

Kewjin Yuoh

Partner, Portfolio Manager
31 Years of Experience
Professional Headshot of Adam Castle

Adam C. Castle, CFA

Partner, Portfolio Manager
17 Years of Experience
Professional Headshot of Harris Trifon

Harris Trifon

Partner, Portfolio Manager
25 Years of Experience
Professional Headshot of Leah Traub

Leah G. Traub, Ph.D.

Partner & Portfolio Manager
24 Years of Experience
Professional Headshot of Steven Rocco

Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income
24 Years of Experience
By The Numbers

Additional Portfolio Managers
28

Credit Research Analysts
36
Years of industry experience as of 01/01/2025.
Portfolio
Performance
Core Fixed Income Institutional Composite
Related to Core Fixed Income
Fixed Income•Core Bond

Core Plus Full Discretion

The strategy seeks to deliver high risk-adjusted excess returns relative to the Bloomberg U.S. Aggregate Bond Index.
Fixed Income•Core Bond

Core Plus Total Return

The strategy seeks to deliver high risk-adjusted excess returns relative to the Bloomberg U.S. Aggregate Bond Index.
Important Information

1 Measured at time of purchase.
2 Does not apply to mortgage-backed securities or U.S. Government and Agency securities.

Click Here for The Global Investment Performance Standards (GIPS®) Composite Report.

THIS WEBSITE IS FOR THE USE OF INSTITUTIONS, INSTITUTIONAL CONSULTANTS, AND FINANCIAL PROFESSIONALS. IT IS NOT INTENDED FOR, AND SHOULD NOT BE USED WITH, RETAIL INVESTORS.

Risks to Consider: The strategy discussed is subject to the general risks associated with investing in fixed income securities, including market, credit, liquidity, and interest rate risk. The value of an investment in fixed income securities will change as interest rates fluctuate in response to market movements. When interest rates rise, the prices of fixed income securities are likely to decline, and when interest rates fall, the prices of fixed income securities tend to rise. The strategy may invest in Treasury Inflation Protected Securities and other inflation-indexed securities, which are subject to greater inflation rate and interest rate volatility. The strategy may invest in foreign or emerging market securities, which may be adversely affected by economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The strategy may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. These factors can adversely affect performance.

Bloomberg Index Information:

Source: Bloomberg Index Services Limited. BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively “Bloomberg”). Bloomberg owns all proprietary rights in the Bloomberg Indices. Bloomberg does not approve or endorse this material, or guarantee the accuracy or completeness of any information herein, or make any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, shall not have any liability or responsibility for injury or damages arising in connection therewith.

*Collective Funds:
Wilmington Trust, N.A. (the “Trustee”) serves as the Trustee of the Fund and maintains ultimate fiduciary authority over the management of, and investments made, in the Fund. The Fund is part of the Wilmington Trust Collective Investment Trust (the “Trust”) operated by the Trustee. 

Wilmington Trust, N.A. Collective Investment Funds (“WTNA Funds”) are bank collective investment funds; they are not mutual funds. Wilmington Trust, N.A. serves as the Trustee of the Wilmington Trust Collective Investment Trust and maintains ultimate fiduciary authority over the management of, and investments made in, the WTNA Funds. The WTNA Funds and units therein are exempt from registration under the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended. Investments in the WTNA Funds are not deposits or obligations of or guaranteed by Wilmington Trust, and are not insured by the FDIC, the Federal Reserve, or any other governmental agency. The WTNA Funds are commingled investment vehicles, and as such, the values of the underlying investments will rise and fall according to market activity; it is possible to lose money by investing in the WTNA Funds.

Participation in Collective Investment Trust Funds is limited primarily to qualified defined contribution plans and certain state or local government plans and is not available to IRAs, health and welfare plans and, in certain cases, Keogh (H.R. 10) plans. Collective Investment Trust Funds may be suitable investments for participants seeking to construct a well-diversified retirement savings program. Investors should consider the investment objectives, risks, charges and expenses of any pooled investment company carefully before investing. The Additional Fund Information and Principal Risk Definitions (PRD) contains this and other information about a Collective Investment Trust Fund and is available at www.wilmingtontrust.com/PrincipalRiskDefinitions or ask for a copy by contacting Wilmington Trust, N.A. at (866)427-6885.

Wilmington Trust is a registered service mark, used in connection with various fiduciary and financial services, including trustee, custodial, agency, and investment management services, offered to trust, individual, and institutional clients by certain subsidiaries of M&T Bank Corporation. Such subsidiaries include, but are not limited to, Manufacturers & Traders Trust Company (M&T Bank), Wilmington Trust Company (operating in Delaware only), Wilmington Trust, N.A., Wilmington Trust Investment Advisors, Inc., Wilmington Funds Management Corporation, and Wilmington Trust Investment Management, LLC. International corporate and institutional services are offered through M&T Bank Corporation’s international subsidiaries. Loans, credit cards, retail and business deposits, and other business and personal banking services and products are offered by M&T Bank, member FDIC. Wilmington Trust traces its roots to the founding of Wilmington Trust Company in 1903.

© 2021 M&T Bank Corporation and its subsidiaries. All Rights Reserved.

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