Long Credit Fixed Income

Landscape III
Isa Catto
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About Long Credit Fixed Income

The strategy, managed by a team with deep experience investing together through multiple market cycles, 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 Barclays U.S. Long 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 index-eligible, investment grade securities on a bottom-up basis. Our team focuses primarily on fundamental security analysis, seeking to capture yield advantage from undervalued bonds while maintaining a duration-neutral strategy.

Strategy Summary

as of 9/30/2021
Asset Class
US Fixed Income
Investment Style
Bottom-Up Security Selection
Portfolio Benchmark
Bloomberg Barclays U.S. Long Credit Index
Separate Account
Open

Additional Information

Media Spotlight

Mark Giambrone Discusses Midterm Elections and Markets on Fox Business
November 7, 2018
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Mark Giambrone Discusses Market Trends on CNBC
November 6, 2018
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Portfolio Characteristics

as of 9/30/2021
Portfolio
Bloomberg Barclays U.S. Long Credit Index
Bloomberg Barclays U.S. Long Corporate Index
Average Credit Quality
A3
A3
A3
Average Weighted Coupon
3.9
4.4
4.4
Average Maturity
23.8
23.6
23.5
Effective Duration (yrs)
15.6
15.1
15.3
Yield to Worst
3.1
3.1
3.1
Current Yield
3.5
3.7
3.7

Performance

Annualized Portfolio Returns as of 9/30/2021
Qtr*
1 Year
3 Year
5 Year
10 Year
Long Credit Fixed Income- Gross Returns
-0.36%
2.16%
11.43%
6.82%
7.21%
Long Credit Fixed Income- Net Returns
-0.44%
1.81%
11.02%
6.43%
6.82%
Bloomberg Barclays U.S. Long Credit Index
-0.18%
2.13%
10.20%
6.14%
6.59%
Bloomberg Barclays U.S. Long Corporate Index
5.14%
13.94%
9.40%
10.25%
8.25%

*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.

Disclosure

Sources for data noted above are from APX, BondEdge and Bloomberg Index Services Limited as of the date specified.

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"). BARCLAYS® is a trademark and service mark of Barclays Bank Plc (collectively with its affiliates, "Barclays"), used under license. Bloomberg or Bloomberg’s licensors, including Barclays, own all proprietary rights in the Bloomberg Barclays Indices. Neither Bloomberg nor Barclays 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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