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Global Fixed Income

Core, total return-focused strategy that invests in the full range of global securities and currencies.

Strategy Inception

2011

Strategy AUM (USD)

$3.23 B

As of 10/31/2024

  1. Globally Diversified

    This U.S. dollar-hedged strategy invests across global developed markets, focusing primarily on investment grade issues, with up to 35% in high yield.

  2. Research-Driven, Dollar-Hedged

    Fundamental research informs security selection, while a macro overlay drives geographic allocations and dollar-hedging helps dampen currency swings.

  3. Focused on Alpha Generation

    The strategy has delivered alpha by investing selectively beyond the benchmark in higher-yielding bonds and currencies and actively managing currency risk.

Investment Outlook

View our latest Investment Outlook for a concise, easy-to-scan overview of current opportunities and risks created by today's global markets.

Strategy Facts
Inception Date
02/01/2011
Total Assets
$3.23 B
As of 10/31/2024
Benchmark
BB Global Agg Hedge
Target Excess Return
1.25%
Over full market cycle
Target Tracking Error
1.5% - 2.75%
Over full market cycle
Investment Universe
Sovereign and corporate bonds located in developed countries

Available Vehicles

U.S. and certain other countries

Institutional Separate Account, Collective Investment Trust

Only in the U.S.

Mutual Fund




Risk Guidelines
Maximum Below Investment Grade
35%
High yield/EMD
Duration Limits
±20%
Of index
Issuer Limits
5%
Per issue excluding government securities and agency mortgages

We believe consistency in risk-adjusted results can be achieved through a diversity of active positions that seek to exploit inherent inefficiencies in the bond market. We rely on the power of fundamental research—augmented by quantitative methodologies—to seek consistent excess returns over a full market cycle. 

We pursue opportunities by following a systematic, repeatable process that’s driven by fundamental research. This research-driven approach is complemented by proprietary quantitative models and tools designed to increase the team’s efficiency.

Continuous Risk Management circles around Outlook, Asset Allocation, and Security Selection.

Outlook

Integrates analysis of economy, markets and policies to establish top-down views on global economic growth, inflation, central bank policies and interest rates

Asset Allocation

Considers economic fundamentals and technical rich/cheap sector analysis to determine relative value

Expected return scenario calculations converted to information ratios and ranked by relative attractiveness

Security Selection

Analysts identify attractive issues through deep fundamental research based on sector-specific analytic frameworks

Portfolio managers, analysts and traders collaborate to manage sector exposures, issuer weights and security selection

Risk Management

Risk Management team independently reviews portfolio holdings’ compliance with risk budgets

Proprietary tools help test and monitor portfolio exposures, apply scenario analysis and evaluate potential trades

  • Managed by a veteran team who average more than 30 years’ experience

  • A globally integrated team with a range of fundamental and quantitative expertise

  • Complementary skills across multiple sectors, countries and currencies


Portfolio Managers

John Lovito avatar
John Lovito

Co-Chief Investment Officer

Global Fixed Income

Firm Start

2009

Industry Start

1986

Simon Chester avatar
Simon Chester

Vice President

Portfolio Manager

Firm Start

2010

Industry Start

1989

Lynn Chen, CFA avatar
Lynn Chen, CFA

Vice President

Senior Portfolio Manager

Firm Start

2021

Industry Start

1990

RA
Rajat Ahuja

Portfolio Manager

Senior Sovereign Analyst

Firm Start

2021

Industry Start

2004

SB
Steve Bartolini, CFA

Vice President

Senior Portfolio Manager

Firm Start

2024

Industry Start

1999

Team Facts
Average Industry Experience
30 Years
Assets Under Management
$3.23 B USD
As of 10/31/2024
Locations
New York, NY - London, UK

Cross-Discipline Support

Client Portfolio Managers
Dedicated Trader
Global Analytics

Takeaways

Global diversification, with an investment grade emphasis

Research-driven, dollar-hedged process

Focused on alpha generation

Composite Performance in USD (%)

1 Month
YTD
1 Year
3 Year*
5 Year*
10 Year*
Global Fixed Income (gross)as of 10/31/2024
-1.58
2.57
10.82
-1.08
0.21
2.27
Global Fixed Income (net)as of 10/31/2024
-1.60
2.29
10.46
-1.34
-0.00
1.91
BB Global Agg Hedgeas of 10/31/2024
-1.35
2.97
9.92
-0.59
0.33
2.12

*Annualized

Data reflects past performance. Past performance does not guarantee future results. The value of investments may fluctuate. Data assumes reinvestment of dividends and capital gains.

Contact Us

For more information about our global fixed income strategies

Sources: Bloomberg Index Services Ltd, FactSet

This is marketing material. This information is intended to be general in nature and is not personal financial product advice. Any advice contained here is general advice only and has been prepared without considering the investment objectives, financial situation or particular needs of any particular person. Before acting on any information, you should consider the appropriateness of the information provided and the nature of the relevant financial product having regard to your investment objectives, financial situation and needs. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information. American Century nor any of their related parties, their employees or directors, provide any warranty of accuracy or reliability in relation to such information or accept any liability to any person who relies on it.