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Did you know that more than 90% of agency MBS trading volume occurs in the forward market? Galliard utilizes TBA securities as part of its overall diversification/risk mitigation strategy for managing fixed income portfolios. Read the new Fixed Income Analyst Insights to learn more about TBAs and forward contracts.
 
At its core, stable value is a fixed income investment, so it stands to reason that plan sponsors, consultants, and stable value investors may be concerned about the prospect of rising interest rates. However, we believe that the unique protections provided by stable value may actually benefit investors in a rising rate environment.
 
In this issue of Fixed Income Perspectives: Galliard has been an investor in the taxable municipal bond market for over 18 years - since firm inception - seeing it as a viable alternative to the corporate bond market and an attractive option for core bond portfolios, particularly long credit mandates. We currently manage over $2.5 billion in taxable municipal bonds from over 400 different issuers across the maturity curve.
 
More than 230 institutional investors rely on Galliard for the successful management of their fixed income and stable value investments. Over the years, our clients recognize that Galliard has consistently adhered to a proven investment philosophy and has delivered expected results.
Learn more about Fixed Income and Stable Value at Galliard.

News

STATISTICS AS OF 9/30/14

  • Assets under
    management:
    Over $86.1 billion
  • 244 institutional clients nationwide

ECONOMIC UPDATE

  • U.S. economic recovery continues
  • Improved second-half economic growth should provide an upward bias in interest rates

MARKET OVERVIEW

  • Spreads widened slightly, contributing to muted quarterly performance in most sectors

Stable Value Masterclass Video on Asset TV

Karl Tourville, Founding Managing Partner at Galliard, along with two other industry experts, participated on an Asset TV Masterclass panel discussing stable value. Watch the video to learn about the revived interest in stable value, how stable value performs in a rising interest rate environment and what plan sponsors should know about the asset class now. Click to play video.

To view the video, you will need to enter your email address. If you have never watched a video on Asset TV, you will likely be required to submit a registration form for approval.

 

 

Karl Tourville Featured on Stable Value Web Seminar

Pensions & Investments held a stable value web seminar recently. A panel of experts including Karl Tourville, Managing Partner at Galliard, explored the continuing popularity of stable value and what the future holds for this asset class. Topics that were discussed included:

  • Why plan sponsors should continue or consider adding stable value funds to their lineup
  • How participants should think about using stable value in their portfolios
  • How the wrap market has changed and perhaps improved recently
  • How does the potential for rising interest rates impact stable value funds
  • How have the new fee disclosure regulations for DC plans impacted the stable value market

To view the replay, go to: www.pionline.com/stablevalue and click ‘Register Now.’ Pensions & Investments also released a microsite dedicated to stable value featuring white papers and a pdf of their research supplement that also was included with the May 12th issue of the print publication.

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