Core

Fixed Income

Mutual Fund

GIM’s disciplined approach to fixed income management is long term and risk averse.  The strategy seeks to provide price stability during periods of interest rate or credit spread volatility in order to deliver attractive risk-adjusted returns.  Holdings consist of U.S. Treasuries, benchmark non-callable agencies, investment grade corporate bonds, and agency-issued mortgage-backed securities (MBS).  All positions are readily tradable, liquid securities, enabling GIM to execute our sector rotation strategies at minimal transaction costs and to accommodate account asset rebalancing.

Emphasizes high credit quality, liquidity, diversification and sector rotation
Focusing on price stability, limiting risk and preserving liquidity

Quantitative discipline; fundamental insight
Integrates quantitative and fundamental analysis

Integrates top-down fundamental and bottom-up quantitative technical analysis
At the macroeconomic, sector, issuer and individual security levels

Yield curve positioning for future Fed and economic trends
Managing interest rate risk

Continuity of senior team

Highlights

  • Investment process guided by diversification, liquidity and lower risk
  • Benchmarked to the Barclays Capital U.S. Aggregate Bond Index (Barclays Aggregate)
  • Inception date of December 31, 1989

Portfolio Managers

  • Stephen J. Mahoney

    Portfolio Manager, Taxable Fixed Income
 
As of 12/31/2018 QTD YTD 1 YEAR 3 YEAR 5 YEAR 10 YEAR Since Inception Inception Date
Glenmede Core Fixed Income (Gross) 1.5% 0.0% 0.0% 1.8% 2.4% 3.3% 6.0% 12/31/1989
Glenmede Core Fixed Income (Net) 1.4% -0.4% -0.4% 1.4% 2.0% 2.9% 5.5%  
Bloomberg Barclays Capital U.S. Aggregate Bond Index 1.6% 0.0% 0.0% 2.1% 2.5% 3.5% 5.8%  

Calendar Year Returns

  Glenmede Gross Glenmede Net Bloomberg Barclays Capital U.S.
Aggregate Bond Index
Gross +/-
2018 0.0% -0.4% 0.0 0.0%
2017 3.5% 3.0% 3.5% 0.0%
2016 1.9% 1.5% 2.7% -0.8%
2015 1.5% 1.1% 0.6% 0.9%
2014 5.2% 4.7% 6.0% -0.8%
2013 -2.1% -2.5% -2.0% -0.1%
2012 4.9% 4.5% 4.2% 0.7%
2011 7.6% 7.2% 7.8% -0.2%
2010 6.4% 5.9% 6.5% -0.1%
2009 5.0% 4.6% 5.9% -0.9%
2008 7.5% 7.0% 5.2% 2.3%
2007 7.3% 6.9% 7.0% 0.3%
2006 4.2% 3.7% 4.3% -0.1%
2005 2.5% 2.1% 2.4% 0.1%
2004 4.4% 4.0% 4.3% 0.1%
2003 3.2% 2.8% 4.1% -0.9%