Constrained fixed income

Philosophy and Process I Team

Our Fundamental, Bottom-up Investment Process

Advantus builds portfolios one security at a time using a fundamental, bottom-up approach that identifies relative value through research and analysis.

We select securities one bond at a time by:

• Finding "sweet spots" in the market
• Looking for bonds with a yield advantage
• Looking for bonds with opportunities for superior total returns

Our fundamental research and analysis is underscored by:

• Analysis of financial ratios, trends, products and management quality
• Utilizing relative industry comparisons
• Performing simulation and stress testing of individual portfolio holdings

We seek relative value by:

• Looking for the best bonds in the market based on value
• Asking if the price is right when compared to the risks
• Comparing to investments currently in the portfolio

Our objectives include:

• Focusing on investment grade securities across all sectors with enhanced returns
• Successfully managing assets under a multiple constraint system
• Seeking excess yield through structure, liquidity or credit trade-offs, rather than interest rate risk
• Building quality portfolios with cash consistency
• Actively managing and focusing on risk that can be underwritten

Philosophy and Process I Team

Investment Team

Advantus' insurance company investment teams leverage an impressive array of experience and expertise in areas particularly suited to institutional-style investing.

Our team of more than 30 seasoned investment professionals – portfolio managers, analysts and traders – operates most effectively by working together. They carefully scrutinize and evaluate the investment grade fixed income market to find relative value among all credit and asset sectors. Key team member credentials are available below:

» Marilyn Froelich, CFA
» Ted Hoxmeier, CFA
» Joe Gogola, CFA
» Kathy Parker, CFA
» Ann Stanina, Manager

Philosophy and Process I Team