Fixed Income Overview
Process

The Pyramis Fixed Income team utilises a bottom up, fundamental investment approach focused on research and risk management. This process is complemented by a team-based structure to ensure continuity across the portfolios.

People

In addition to leveraging Fidelity's global research platform, the Fixed Income team employs:

people

Integrated Risk Management Framework

Managing risk is a critical component of the process. The Investment Grade portfolios:

Are constructed to seek to be highly diversified

Are managed duration neutral to their benchmarks

Leverage the proprietary quantitative risk modeling

Are supported by the dedicated counterparty team

Innovation

Pyramis Global Advisors invests significant resources to seek to ensure that the tools its team uses to build and manage client portfolios are second to none. Whether it involves the development of proprietary models or researching third party software, Pyramis is continuously looking for opportunities to improve portfolio management efficiency and effectiveness through innovation.

Fixed Income Products

Investment Grade

Broad Market Duration

The objective is to seek to generate returns that exceed the Barclays Capital Aggregate Bond Index through investments in US investment-grade dollar denominated fixed income securities, while protecting downside risk. View Investment Process

Short Duration

The objective is to seek to generate returns that exceed the Barclays Capital 1-3 Year Government/Credit Bond Index through investments in investment-grade fixed income securities, while protecting downside risk. View Investment Process

Intermediate Duration

The objective is to seek to generate returns that exceed the Barclays Capital Intermediate Government/Credit Bond Index through investments in investment-grade fixed income securities, while protecting downside risk. View Investment Process

Long Duration

The objective is to seek to generate returns that exceed the Barclays Capital Long Term Government/Credit Index or customised index through investments in investment-grade fixed income securities, while protecting downside risk. View Investment Process

Corporate Bond

The objective is to generate returns that exceed the Barclays Capital Credit Bond Index through investments in investment-grade fixed income securities. View Investment Process

Long Corporate Bond

The Long Corporate Bond strategy seeks to outperform the Barclays Long Corporate Bond A or better index by investing in a full spectrum of US dollar denominated corporate bonds with an emphasis on long duration issues rated A or better.

Mortgage-Backed Securities

The objective is to seek to generate returns that exceed the Barclays Capital Mortgage-Backed Securities Index through investments in investment-grade fixed income securities, primarily mortgage related securities and other securitised debt instruments. View Investment Process

Treasury Inflation-Protected Securities

The objective is to seek to generate returns that exceed the Barclays Capital Treasury Inflation Protected Securities Index by investing primarily in Treasury inflation protected securities. View Investment Process

Non-Investment Grade

High Yield Bond

The strategy seeks to achieve total returns in excess of the Merrill Lynch High Yield Master II Constrained Index primarily through investments in a universe of lower-rated corporate debt securities providing high current income and potential for capital appreciation. View Investment Process

Leveraged Loans

The strategy seeks to achieve total returns in excess of the Standard & Poor's LSTA Performing Loan Index primarily through investments in a universe of lower-rated corporate bank loans providing high current income and potential for capital appreciation.

Emerging Markets Debt

The objective is to seek to achieve total returns in excess of the J.P. Morgan EMBI Global Index primarily through investments in emerging market debt securities. View Investment Process

Multi-Sector

Core Plus

The objective is to seek to achieve absolute and risk-adjusted returns in excess of the Barclays Capital Aggregate Bond Index by investing in both investment-grade and non-investment-grade sectors, including high yield, emerging market debt, and high yield CMBS securities, bank debt and global bonds, while protecting downside risk. View Investment Process

Liability Driven Investing

For more information on these products, please contact us at pyramisfixedincome@pyramis.com

Pyramis Global Advisors (UK) Limited
4th Floor
10 Paternoster Square
London, EC4M 7LS
T: +44 (0)20 7184 3560

Ulrik Walther
Head of EMEA Sovereign Business
T: +44 (0)20 7184 3566
M: +44 (0) 7852 329399
ulrik.walther@pyramis.com

Marc Harris
Executive Director
T: +44 (0)20 7184 3578
marc.harris@pyramis.com

Media Relations
001 617 563 5800

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