Enhanced Intermediate Credit Fixed Income 

Bifocals
Pamela Nelson 
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About Enhanced Intermediate Credit Fixed Income

The strategy, managed by a team with deep experience investing together, utilizes the full breadth of the firm’s fundamental research capabilities to identify companies across the market cap spectrum in order to exploit inefficiencies resulting in a differentiated portfolio.

Investment Process

Investment Objective:

Seeks to outperform the Bloomberg U.S. Intermediate Credit Index over a full market cycle.

Investment Overview:

We believe markets are inefficient, and that these inefficiencies can best be exploited through adherence to a valuation centric investment process dedicated to the selection of intermediate-term investment grade and high yield securities on a bottom-up basis. Our team focuses primarily on fundamental securities analysis and capturing the yield advantage from undervalued bonds while maintaining a duration neutral strategy.

Strategy Summary

as of 9/30/2024
date format is m/dd/yyyy
Asset Class
U.S. Fixed Income
Investment Style
Bottom-Up Security Selection
Portfolio Benchmark
Bloomberg U.S. Intermediate Credit Index
Separate Account
Open

Additional Information

Media Spotlight

Mark Giambrone Discusses Midterm Elections and Markets on Fox Business
November 7, 2018
View on FoxBusiness.com
Mark Giambrone Discusses Market Trends on CNBC
November 6, 2018
View on CNBC.com>

Characteristics

as of 9/30/2024
date format is m/dd/yyyy
BH ENH INT CR
Bloomberg U.S. Intermediate Credit Index
Average Quality
Baa1
A3
Coupon (%)
5.64
3.99
Current Yield (%)
4.06
4.05
Effective Duration (yrs)
3.99
4.04
Maturity (Yrs)
5.01
4.78
YTW (%)
4.93
4.64

Performance

Annualized Returns as of 9/30/2024
date format is m/dd/yyyy
Qtr*
1 Year
3 Year
5 Year
10 Year
Enhanced Intermediate Credit Fixed Income - Gross Returns
4.40%
12.32%
1.31%
2.78%
3.27%
Enhanced Intermediate Credit Fixed Income - Net Returns
4.30%
11.90%
0.93%
2.40%
2.88%
Bloomberg U.S. Intermediate Credit Index
4.58%
11.46%
0.67%
1.89%
2.67%

* Most recent quarter returns are not annualized. Past performance is not indicative of future results. The value of an investment can go down as well as up as a result of market and currency fluctuations.

Portfolio Characteristics

as of 3/31/2023
Portfolio
Bloomberg US Intermediate Credit Index
No items found.

Performance

Annualized Portfolio Returns as of 3/31/2023
Qtr*
1 Year
3 Year
5 Year
Since Inception**
No items found.
No items found.
No items found.

* Most recent quarter returns are not annualized. Past performance does not guarantee future results and there is no assurance that the Strategy will achieve its investment objective.
** Inception Date: 1/1/14

Disclosure

Sources for data noted above are from APX, BondEdge and Bloomberg Index Services Limited as of the date specified. Material presented is based on the composite and not an individual account.

Barrow Hanley gross returns are shown before investment management fees and custody expenses. Index returns do not reflect transaction costs, management fees, and other expenses. Performance is expressed in U.S. currency. Net returns are calculated using a model fee. The model fee is based on the highest tier of our standard fee schedule. Barrow, Hanley, Mewhinney & Strauss, LLC claims compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.

Bloomberg Index Services Limited. BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively “Bloomberg”). Bloomberg or Bloomberg’s licensors own all proprietary rights in the Bloomberg Indices. Neither Bloomberg nor Bloomberg’s licensors approves or endorses this material, or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.

All institutional product information has been provided by Barrow, Hanley, Mewhinney & Strauss, LLC. Any questions about this material or requests for additional information may be made directly to the firm by contacting us here.

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