67 WALL STREET, New York - January 22, 2014 - The Wall Street Transcript has just published its current Value Investing and Other Strategies Report . This special feature contains expert industry commentary through in-depth interviews with highly experienced Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Small Cap Investing - Value Oriented Strategy - High-Quality Companies - Upside in Small-Cap Stocks - Bottom-Up Stock Selection - Portfolio Diversification with Closed-End Mutual Funds - High-Grade Fixed Income Securities - Sector Rotation Investing
Companies include: U.S. Dollar Denominated Fixed Income Securities
In the following excerpt from the Value Investing and Other Strategies Report, an expert fixed income portfolio manager discusses the outlook for 2014:
TWST: Can you begin by giving us an overview of the AST New Discovery Asset Allocation Portfolio? What role does your firm C.S. McKee play in the management of the fund?
Mr. Allen: Our role is as one of the seven managers hired to direct investments for the fund. In particular we manage core fixed income, and believe ourselves and Bradford & Marzec are the two submanagers designated to manage the core bond portion of the portfolio. From what I understand, the portfolio is part of the variable annuity business at Prudential, and it's one of the - I believe now 19 funds they offer under that umbrella.
TWST: Can you give us a look inside the fund that you manage?
Mr. Allen: Our portion of the fund is equal to 11% of the total, and our role with them is to manage in a style very much in keeping with our other fixed income plans. We focus on high-grade, domestic only, dollar-denominated core fixed income. That means involvement in the broad range of assets including Treasuries, agencies, credit and mortgages.
We typically focus on single-A and above-rated issuers with larger more liquid deals. We are a fairly active manager with the focus more on security selection and less on sector management, and even less on active duration. A macro-level forecast has little influence on portfolio structure; security research and active trading among liquid securities is really our approach for adding value.
TWST: What are your guiding investment principles or the valuation methods that point to your choices of security selection?
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.