High Yield Fixed Income

2018 4Q

The High Yield strategy returned -7.00% (gross of fees) during the fourth quarter of 2018, underperforming its benchmark, the ICE BofAML U.S. High Yield Master II Constrained Index (-4.67%) by 233 basis points. The High Yield Mid-Grade strategy returned -5.74% (gross of fees) during the fourth quarter of 2018, underperforming its benchmark, the ICE BofAML U.S. High Yield BB-B Rate Constrained Index (-3.87%) by 187 basis points.

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