Preservation of Capital
Cincinnati Asset Management is a boutique, fixed income manager specializing in U.S. Corporate Bonds. Established in 1989 to build and manage high performance fixed income portfolios for individuals and institutions, our conservative and disciplined approach stresses preservation of capital, diversification, and high investment income. We have specialized in the management of corporate fixed income securities for our clients for over 30 years. We are an independent investment adviser registered with the SEC and structured as a corporation that is employee owned. The strength of our Firm lies with our niche focus, commitment to our investment process and depth of experience of our Portfolio Teams, Managing Directors and employees.
Recent Insight
CAM High Yield Weekly Insights
(Bloomberg) High Yield Market Highlights US junk bonds snapped back on Thursday, notching the biggest one-day returns in a week after it became clear that reciprocal tariffs were not likely before April. Yields tumbled six basis points to 7.26%. The gains spanned across ratings. CCCs, the riskiest part of the high-yield market, racked […]
CAM High Yield Weekly Insights
(Bloomberg) High Yield Market Highlights US junk bonds rallied for five straight sessions on Thursday and are headed for best monthly gains since September, after a slew of data showed economic strength and a steady labor market. Yields have dropped 30 basis points this month, also the biggest monthly decline since September, reaching […]
CAM Investment Grade Weekly Insights
Credit spreads remained near their tightest levels of 2025 during the week. The option adjusted spread of the Bloomberg US Corporate Bond Index closed at 79 on Thursday January 30 after closing the week prior at 78. The 10yr Treasury yield moved lower on Monday morning and then traded in a tight range thereafter. The […]
CAM High Yield Weekly Insights
(Bloomberg) High Yield Market Highlights US junk bonds are headed for the biggest weekly gain in more than two months after rallying for three straight sessions on optimism that inflation is easing and the Federal Reserve is likely to cut rates. The core consumer price index came in lower than anticipated this week, […]
CAM Investment Grade Weekly Insights
Credit spreads for most bonds were unchanged on the week as the Index has exhibited little movement in either direction thus far in 2025. The Bloomberg US Corporate Bond Index closed at 80 on Thursday January 16 after closing the week prior at the same level. The 10yr Treasury made a meaningful move lower in […]
CAM High Yield Weekly Insights
(Bloomberg) High Yield Market Highlights US junk bonds rose for a third day Thursday, with the 17% return the highest in five weeks and 2024 standout CCCs continuing to lead the way. That riskiest segment of the high-yield market notched an eighth-straight session of gains, and the 0.2% advance Thursday was the most […]
CAM Investment Grade Weekly Insights
Credit spreads traded sideways this week, remaining near year-to-date tights. The Bloomberg US Corporate Bond Index closed at 78 on Thursday December 5 after closing the week prior at the same level. The 10yr Treasury is less than 1bp higher over the course of the past week, closing at 4.169% last Friday and 4.176% through […]
CAM High Yield Weekly Insights
(Bloomberg) High Yield Market Highlights US junk bonds are headed for modest weekly gains for the third consecutive week after climbing for six sessions in row. The gains come after a string of data showed a resilient economy and that was reinforced after Federal Reserve Chair Jerome Powell said the economy is “in […]
CAM Investment Grade Weekly Insights
Credit spreads were largely unchanged during the week. The Bloomberg US Corporate Bond Index closed at 78 on Thursday November 21 after closing the week prior at the same level. The 10yr Treasury was also little changed during the period, closing at 4.44% last Friday and 4.42% this Thursday. Through Thursday, the corporate bond index […]
CAM High Yield Weekly Insights
(Bloomberg) High Yield Market Highlights US junk bonds are set to cautiously rebound from last week’s losses after notching up gains for four sessions in a row. The market has reconciled to a slower pace of Federal Reserve interest rate cuts against the backdrop of steady growth and resilient labor market. Junk bonds […]
Clients
Individuals
Individual investors benefit from the same disciplined approach we apply to the management of portfolios of our institutional clients. We buy/sell securities in institutional size that typically is more efficient than smaller retail purchases. The individual investor participates in these larger trades and enjoys the same pricing that the institutional client receives.
Institutional
We focus on the needs of institutional clients, including pension plans, endowments, charitable organizations, and insurance companies. Our strategic investment philosophy, rather than a tactical trading approach, assures that the longer term requirements of these institutions are being met through disciplined investing. We are also able to tailor a portfolio to meet specific investment objectives.
Approach
Our investment process concentrates in the U.S. Corporate Bond market and offers solutions to investors which span the entire spectrum of credit quality from Investment Grade to High Yield. In all cases fundamental credit research is a primary element of our portfolio management process. Our approach stresses preservation of capital, diversification and high investment income.
CAM follows a conservative “bottom-up value” investment discipline that seeks out companies that are currently out of favor with investors, but poised to improve. The primary focus is preservation of capital with a secondary, but extremely important, emphasis on total return. Our portfolios are not managed to a benchmark from a portfolio construction perspective, but do look to outperform respective benchmarks over a full market cycle with less volatility. We do not utilize interest rate anticipation tactics. We look to minimize the impact of macro-economic factors, such as interest rate risk, from the investment process by employing defensive maturity structure within the portfolio
Research
View our research materials, like white papers and yield-spread analysis, as well as our weekly insight.
Investment Solutions
High Yield
For investors seeking potentially greater returns, this strategy focuses on bonds rated in the top two rating categories (BA & B). Securities rated CAA and lower are not eligible for purchase.
Investment Grade
Designed for the more conservative investor interested in an intermediate, investment grade corporate strategy that provides a premium yield to Treasury securities.
Short Duration
For investors interested in a shorter maturity profile which targets an allocation of 50% Investment Grade and 50% High Yield securities in one portfolio.
Broad Market
Combines the Investment Grade and High Yield strategies in an approximate 2/3 – 1/3 blend. It is designed for the investor who desires to achieve greater returns than the Investment Grade strategy while incurring less volatility than the High Yield strategy.
Short Duration : Investment Grade
Designed for investors interested in a shorter maturity profile but do not wish to hold any non-investment grade securities. The average maturity of the portfolio, once seasoned, is less than half of that of our core Investment Grade strategy.
CAMBX
The CAM Broad Market Strategic Income Fund provides an opportunity for long-term investors to find a conservative risk/reward balance that focuses on downside protection and total return.