Structured Finance

Investment Strategy

At AUIM, we manage portfolios under a uniform investment approach driven by a seasoned group of investment and risk management professionals. Performing in a team-oriented environment, we focus on fundamentals, positioning, technicals, and valuation throughout each step of the investment process. We begin our investment process with emphasis on top-down factors that have significant impact on the performance of the portfolio strategy, duration, and allocation. An active duration management approach is taken to position the portfolio short or long the duration benchmark, as well as along the curve. Concentration is given to monetary policy, fiscal policy, political environment, and inflation expectations. Many of the same factors used in duration analysis are also used in the allocation process.

Simultaneously, a rigorous bottom-up research process is used to evaluate securities to round out the portfolio construction process. For structured products, we focus on securities with superior and predictable collateral, and transparent and robust structures. We conduct proprietary and intensive modeling and stress testing for principal protection and performance. Loan underwriter, servicer, and issuer track records are also closely scrutinized.

Both top-down and bottom-up information is shared amongst our global partners and between different fixed income asset classes to fully leverage resources and provide optimal value to our clients. We strive to exploit inherent inefficiencies of the market and outperform the benchmark, while simultaneously adhering to our rigorous investment standards.

Key Facts

$11 billion USD

Strategy AUM

$114 billion USD

Firm AUM

Strategy Objective

To consistently outperform the Barclays U.S. Securitized Index throughout the credit cycle.

As of 3/31/2017

Structured Finance Institutional Fact Sheet

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Composite Disclosures

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Portfolio Management Bios

Click here to download bios for the Structured Finance Portfolio Management Team.

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Aegon USA Investment Management, LLC, (AUIM) is a U.S.-based investment adviser registered with the Securities and Exchange Commission (SEC) and a member company of Aegon Asset Management, the global investment management division of the Aegon Group.