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Strategy differentiators

  • Active management based on specialized research and dynamic security selection to manage complex global markets.

  • Deep and broad experience analyzing, managing, and pricing complex security structures across a variety of credit, interest rate, and regulatory conditions.

  • An emphasis on capital preservation equates to higher quality and capital structure bias, seeking to deliver a low volatility profile and attractive risk-adjusted returns.

  • Investing down the capital structure by focusing on higher-quality issuers, while avoiding unrated securities.

Strategy facts

  • Manager

    Spectrum Asset Management

  • Inception

    1 January 2000

  • Index

    ICE BofA U.S. All Capital Securities Index

  • Targeted number of issuers

    n/a

  • Expected turnover

    n/a

  • Investment vehicles

    ETF, IMA, SMA, UCITS Fund, U.S. Mutual Fund

Portfolio management

Spectrum Asset Management

Extensive experience managing global preferred and capital securities with a robust fundamental credit research approach, including both top-down and bottom-up analyses that lead to selective and thoughtful portfolio construction.

PM Title
Chief Executive Officer
Name
Mark A. Lieb
45 years of experience
PM Title
Chief Investment Officer
Name
L. Phillip Jacoby, IV
40 years of experience
PM Title
Portfolio Manager
Name
Kevin Nugent
38 years of experience
PM Title
Portfolio Manager
Name
Fred Diaz
30 years of experience
PM Title
Portfolio Manager
Name
Bob Giangregorio
19 years of experience
PM Title
Portfolio Manager
Name
Manu Krishnan, CFA
18 years of experience
PM Title
Portfolio Manager and Trader
Name
Satomi Yarnell
12 years of experience
Learn more

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Past performance does not guarantee future results.

Fixed‐income investment options are subject to interest rate risk, and their value will decline as interest rates rise. Risks of preferred securities differ from risks inherent in other investments. In a bankruptcy preferred securities are senior to common stock but subordinate to other corporate debt. Preferreds also contain risks including coupon deferral risk, credit risk, call risk, conversion risk and write-down risk.

Investment guidelines are subject to change.

Not all investment options are available in all jurisdictions. Certain vehicles have not been registered with the United States Securities and Exchange Commission under the United States Securities Act of 1933 and may not be directly or indirectly offered or sold in the United States or to any United States person.

Spectrum Asset Management, Inc., is an affiliate of Principal Global Investors.

Spectrum Preferred and Capital Securities is a marketing term representative of the Spectrum Intermediate Duration Preferred Securities Institutional composite. The data shown here is for the composite.

The ICE BofA U.S. All Capital Securities Index tracks the performance of fixed rate, U.S. dollar denominated hybrid corporate and preferred securities publicly issued in the U.S. domestic market.