Income Performance Strategy
Q1 2021 Quarterly Commentary
While drastically different from the historic collapse of all asset classes during the 2020 Covid-induced sell-off, the first quarter of 2021 was still filled with volatility across the fixed income landscape. The active nature of the Bramshill Income Performance Strategy proved beneficial during 2020 as we were able to de-risk ahead of the collapse in March and then reallocate capital opportunistically at stressed prices.
Coming into 2021 we began to monetize a portion of our investments due to less attractive nominal yields as we slowly re-established an allocation of dry powder. We began to de-risk rate sensitive portions of our portfolio and focus more on securities that had the opportunity to tighten in spread while mitigating any disproportionate rise in interest rates.
Download our Quarterly Investor Letter to learn about:
- Where we're de-risking and where we're seeing the most value today.
- How we posted an approximate flat first quarter this year (+0.04% net) in terms of performance during one of the most challenging periods for US fixed income since the fourth quarter of 2016.
- Our forward outlook and how we're positioning our portfolio for the remainder of 2021.
Complete the form on this page to download our Q1 Investor Letter.