Core Plus

Description

The Core Plus Fixed Income Product seeks to maximize total return, minimize risk, and preserve capital utilizing all sectors of the fixed income market. Core Plus portfolios are well diversified, and consist of high quality investment grade, high yield, and non-dollar securities, with an average portfolio duration of three to six years.

Portfolio Highlights

As of September 30, 2022
Reams Bloomberg U.S. Aggregate
Average Duration 6.6 Years 6.2 Years
Average Maturity 9.1 Years 8.5 Years
Yield to Maturity 5.8% 4.8%
Average Quality A1 AA2

Sector Summary

As of September 30, 2022


Reams Bloomberg U.S. Aggregate
Corporate 46% 24%
Asset Backed 3% 0%
Gov't Related 1% 5%
Cash & Equivalents 2% 0%
Treasury 28% 41%
Mortgage Backed 21% 30%

Performance


Annualized Performance as of September 30, 2022
1 Yr. 3 Yrs. 5 Yrs. 10 Yrs. Since
Inception
Core Plus (Gross) -14.20% -0.42% 1.76% 2.14% 9.09%
Core Plus (Net) -14.45% -0.72% 1.45% 1.84% 8.77%
Bloomberg U.S. Aggregate -14.60% -3.25% -0.27% 0.89% 6.91%

Important Disclosure

Past performance is no guarantee of future results.  Performance figures are stated as gross and net, which is calculated using the highest management fee for this strategy. The firm’s management fees are detailed in its Form ADV Part 2A.

Reams Asset Management is a division of Scout Investments, a registered investment advisor that offers investment management services for both managed accounts and mutual funds. Scout Investments is a wholly owned subsidiary of Raymond James Investment Management (formerly Carillon Tower Advisers), which in turn is a wholly owned subsidiary of Raymond James Financial.

The firm was previously defined as UMB Institutional Asset Management, a subsidiary of UMB Bank, which managed both institutional and high net worth, trust, and estate assets. On July 1, 2009 the firm transitioned from UMB Bank and became a subsidiary of UMB Financial Corporation in order to focus on institutional investment management. On November 30, 2010, the firm acquired the advisory business of Reams Asset Management Company, LLC. On December 28, 2010, the firm changed its name from Scout Investment Advisors to Scout Investments. On November 17, 2017, Scout Investments was acquired by Carillon Tower Advisers. On October 1, 2022, Carillon changed its name to Raymond James Investment Management.

Scout Investments, Inc. claims compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.  To receive a complete list and description of composites and/or a GIPS-compliant performance report, please contact Reams Asset Management at 463.777.3900.

The bond quality ratings indicated are assigned by credit rating agencies Standard & Poor’s, Moody’s, and Fitch as an indication of an issuer’s creditworthiness. Unless specified by client investment guidelines, the middle of three or highest of two credit quality ratings available from these rating agencies is used. Credit quality is subject to change. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Ratings information from Standard & Poor's (“S&P”) may not be reproduced. S&P credit ratings are statements of opinion and are not statements of fact or recommendations to purchase, hold, or sell securities, nor do they address the suitability of securities for investment purposes, and should not be relied on as investment advice. S&P does not guarantee the accuracy, completeness, timeliness or availability of any information, including ratings, and is not responsible for errors or omissions (negligent or otherwise). S&P gives no express or implied warranties, including but not limited to any warranties of merchantability or fitness for a particular purpose or use. S&P shall not be liable for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including lost income or profits and opportunity costs) in connection with any use of ratings.

BLOOMBERG, BLOOMBERG INDICES and Bloomberg Fixed Income Indices (the “Indices”) are trademarks or service marks of Bloomberg Finance L.P. Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited, the administrator of the Indices (collectively, “Bloomberg”) or Bloomberg's licensors own all proprietary rights in the Indices. Bloomberg does not guarantee the timeliness, accuracy or completeness of any data or information relating to the Indices.