Short Duration Corporate Bonds

Strategy Overview

Account Minimum: $250,000 | Launch of Strategy: June 1, 2004

The strategy is designed for investors interested in a shorter maturity profile which targets an allocation of 50% Investment Grade and 50% High Yield securities in one portfolio. A bottom-up approach identifies investment opportunities that represent the most attractive value with strong prospects for consistent income and growth. The overall average credit rating objective is Baa3 with a duration target of 3.

We access over 30 institutional broker/dealers seeking competitive bids and offerings. This trading network provides all of our clients with best pricing. A strict sell discipline is employed within the strategy.

Portfolio Statistics

(as of 9/30/2024)

wdt_ID	Name	Value
1	Average Maturity	2.90
2	Duration	2.10
3	Coupon	4.36%
4	Yield to Maturity	5.15%
5	Current Yield	4.40%
6	Target Diversification	25-30 Issues
7	Average Credit Target	BAA3

Resources

Diversified Approach

The objective is to provide a diversified approach to the corporate bond market that can perform in various environments within the context of a duration target of 3.

Enhanced liquidity & safety

By investing only in bonds with an initial issue size generally in excess of $100,000,000.

Shorter Maturity

A shorter maturity profile which blends an allocation of 50% Investment Grade and 50% High Yield in one portfolio..

Diversified Portfolio

The portfolio is diversified across 20 – 30 equal weighted issues and generally limited to a maximum of 15% per industry group.

Established Companies & Industries

Emphasis on established industries leads us to avoid sectors that have precarious operating profiles.

Bottom Up Approach

A bottom-up approach identifies investment opportunities that represent the most attractive value with strong prospects for consistent income and growth.

Strategy Data

Calendar Year Returns (Gross)

Annualized Returns

(period ended 9/30/2024)

Risk Statistics

(period ended 9/30/2024)

Annualized Returns

(period ended 9/30/2024)

wdt_ID	Period	CAM Gross	CAM Net	Weighted Bloomberg Index
1	YTD	5.66	5.46	6.69
2	1 Year	10.23	9.95	12.64
3	3 Years	1.82	1.56	2.50
4	5 Years	3.17	2.90	3.45
5	10 Years	2.60	2.30	3.71
6	Inception	3.99	3.65	5.04

Risk Statistics

(period ended 9/30/2024)

wdt_ID	Period	Standard Deviation CAM SD	Standard Deviation Weighted Bloomberg Index	Sharpe Ratio CAM SD	Sharpe Ratio Weighted Bloomberg Index
1	3 Yrs.	5.34	6.25	-0.39	-0.20
2	5 Yrs.	5.74	6.97	0.14	0.16
3	10 Yrs.	4.76	5.50	0.20	0.38
4	Inception	5.31	6.33	0.43	0.53

Maturity Distribution

Duration Distribution

Industry Distribution

Credit Quality Distribution

wdt_ID	Type	Value
1	AAA	0.00
2	AA	3.30
3	A	31.00
4	BAA	18.50
5	BA	29.60
6	B	15.50
7	CAA	2.10
8	CA	0.00
9	< C	0.00
10	NR	0.00

*Bloomberg Index Ratings