Long Government/Credit

Actively managed long duration strategy targeting an excess return over the Barclays U.S. Long Government/Credit Index or similar benchmark. Strategy has historically generated its excess return in equal increments of top-down sector allocation and bottom-up subsector and security selection, with an emphasis on the credit and "spread" sectors.

Investment Approach

  • Good first move toward liability driven solution
  • Emphasis on high quality and close duration match
  • Diversified portfolios
  • Emphasis on spread product
  • Research-driven subsector and security selection
Why Prudential Fixed Income?

Decades of experience managing long duration portfolios

  • Managing LDI-oriented portfolios for third-party clients since 1980s
  • 16-year track record in Long Duration Government/Credit Strategy
  • 10-year track record in Long Duration Corporate Strategy

Expected Sustainable Alpha Generation

  • Emphasize research-driven security selection
  • De-emphasize interest rate timing

Comprehensive Credit and Quantitative Research Expertise

  • 89 career analysts, with senior analysts averaging 17 years experience
  • 65-member Quantitative Research and Risk Management Group

As of June 30, 2014.

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Highlights

  • Senior Portfolio Manager has 22 years experience
  • Investment team averages 20 years experience
  • $61 billion in long duration assets