Income Performance Strategy 

Q1 2020 Quarterly Commentary

In our 2019 fourth quarter letter we discussed how after a concerted rally for most of the year we had moved the Portfolio to a defensive posture. More specifically, we stated “Yields across most asset classes are unattractive at multi-year lows, and credit spreads which appeared fair value in the third quarter, now screen rich as well on most of our models.” Therefore, we entered 2020 positioned extremely defensively...

Complete the form on this page to read more in our Q1 Investor Letter!


We have been and continue to be faced with a truly unprecedented situation. The global coronavirus pandemic is affecting all of our communities, families, our businesses, and our way of life. Our hearts go out to anyone who has been impacted by the virus, either directly or indirectly. Our thoughts are especially with those who are sick, to whom we extend our heartfelt wishes for a full recovery.

Regards, The Bramshill Team