Unconstrained Bond (MNCPX)

One of our key thematic views is that the global economy is “short everything,” including housing, commodities, and manufacturing because of events throughout the 2000s and 2010s.

Between our “short everything” theme and the inflection of key secular drivers (e.g., changing demographics, de-globalization, policy implementation, etc.), it is our opinion that we will see higher highs and higher lows for inflation and interest rates over the next decade.

We believe this backdrop will favor shorter duration, higher yielding strategies such as unconstrained bond mandates where managers have the flexibility to quickly adapt to changing market conditions. Our Unconstrained Bond strategy is a dynamic fixed income solution with multiple tools at its disposal to navigate changing environments.

Defining Characteristics

Dynamic
Has the ability to invest across sectors, credit qualities, countries, and currencies based on the prevailing market environment

Flexible, yet risk-aware
Uses pre-defined ranges within which management may adjust exposure for duration, high yield, and non-dollar exposure

Absolute return-oriented
Strives to deliver positive absolute returns across a variety of environments

In his capacity as Managing Director of Fixed Income, Marc and his team manage the implementation of our fixed income processes and frameworks for both multi-asset and fixed income specific strategies. In addition, Marc is a member of the Investment Policy Group, responsible for our economic and market overviews and asset allocation decision making. He oversees the firm’s core, high yield, and nontraditional fixed income strategies, brings over 20 years of industry experience, with 16 of those at Manning & Napier.