Bloomberg Barclays U.S. Aggregate Bond TR USD: 3 month rolling peer rank (12/31/2017-9/30/2020)
Why has active management outperformed?
Corporate spreads (12/31/2019-11/30/2020)
Securitized spreads (12/31/2019-11/30/2020)
Conditions remain favorable for active management
Risks in the post-pandemic environment
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Bloomberg Barclays U.S. Aggregate Bond Index is an unmanaged index that covers the U.S. investment-grade fixed-rate bond market, including government and credit securities, agency mortgage pass-through securities, asset-backed securities and commercial mortgage-based securities. Investments cannot be made in an index.
Intermediate-term core-plus bond portfolios invest primarily in investment-grade U.S. fixed income securities including government, corporate and securitized debt, but generally have greater flexibility than core offerings to hold non-core sectors such as corporate high yield, bank loan, emerging-market debt and non-U.S. currency exposures.
Basis points (bps) represent 1/100th of a percent (for example: 50 bps equals 0.50%).