Dynamic Fixed Income

Developed and exclusively offered by PWG, Dynamic Fixed Income is a proprietary quantitative strategy that allocates portfolio assets tactically across the fixed income market. The strategy is designed to provide attractive benchmark-relative returns over full market cycles, while attempting to avoid the potential downside associated with an extended rising-rate environment.

The core strategy may invest broadly across the global fixed income market, while the tax-aware variant focuses predominantly on the municipal securities. Each evaluates its defined investment universe using proprietary filters to determine the optimal portfolio composition in terms of the following characteristics:

Positions are re-evaluated and rebalanced on a regular basis, resulting in a dynamic portfolio that is responsive to changing market conditions.

The strategies may hold only long positions in U.S.‐listed exchange‐traded funds representing exposure to the underlying fixed income market sectors of interest.