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
Investment Grade Weekly 01/26/2018
Fund Flows & Issuance: According to Wells Fargo, IG fund flows for the week of January 18-January 24 were $3.6 billion, the second largest in the last 2 months. This comes on the heels of a $5.1 billion inflow the week prior, which was the largest in the past 3 months. Note that these are total […]
High Yield Weekly 01/19/2018
Fund Flows & Issuance: According to a Wells Fargo report, flows week to date were -$1.2 billion and year to date flows stand at $1.0 billion. New issuance for the week was $6.9 billion and year to date HY is at $11 billion, which is up 32% over the same period last year. (Bloomberg) High Yield […]
High Yield Weekly Insights 01/12/2018
Fund Flows & Issuance: According to a Wells Fargo report, flows week to date were $1.2 billion and year to date flows stand at $2.2 billion. New issuance for the week was $4.1 billion.
The high yield market is strong out of the gate in 2018.
Investment Grade Weekly Insight 01/12/2018
Fund Flows & Issuance: According to Wells Fargo, IG fund flows for the week of January 4-January 10 were $5.1 billion, the largest inflow in over 3 months. Note that these are total flows across four investment strategies: Short, Intermediate, Long and Total Return. Per Bloomberg, investment grade corporate issuance for the week through January […]
Investment Grade Weekly Insights 01/05/2018
Fund Flows & Issuance: According to Wells Fargo, IG fund flows for the week of December 28-January 3 were $3.0 billion, the largest inflow in six weeks. Per Bloomberg, investment grade corporate issuance for the week through January 4 was $21.05bln. As of today, the Bloomberg Barclays US IG Corporate Bond Index is trading at […]
High Yield Weekly Insight 12/21/2017
(CNN) White House, GOP celebrate passing sweeping tax bill Republican lawmakers joined President Donald Trump on Wednesday afternoon to celebrate their largest legislative achievement of 2017, in a public ceremony spotlighting the most sweeping overhaul of the US tax system in more than 30 years. The bill passed the House Wednesday 224-201, with no Democrats […]
High Yield Weekly Insight 12/15/2017
Fund Flows & Issuance: According to a Wells Fargo report, flows week to date were -$1.4 billion and year to date flows stand at -$18.5 billion. New issuance for the week was $6.0 billion and year to date HY is at $273 billion, which is up 23% over the same period last year. (Bloomberg) Corporate […]
Investment Grade Weekly Insight 12/08/2017
Fund Flows & Issuance: According to Wells Fargo, IG fund flows on the week were $1.357bln. This brings the YTD total to +$318.643bln in total inflows into the investment grade markets. IG fund flows remain on pace for the strongest year on record. Per Goldman Sachs, year-to-date cumulative inflows into IG mutual funds account for […]
CAM High Yield Weekly Insights
Fund Flows & Issuance: According to a Wells Fargo report, flows week to date were -$1.0 billion and year to date flows stand at -$17.0 billion. New issuance for the week was $11.4 billion and year to date HY is at $267 billion, which is up 26% over the same period last year. (Bloomberg) High […]
CAM High Yield Weekly Insights
Fund Flows & Issuance: According to a Wells Fargo report, flows week to date were -$0.3 billion and year to date flows stand at -$15.9 billion. New issuance for the week was $6.3 billion and year to date HY is at $255 billion, which is up 22% over the same period last year. (Bloomberg) Junk […]
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.