Strategies

MFIM Core Fixed Income 

Core Total Return

The key features of the Core Total Return strategy include a portfolio diversified across U.S. Government, corporate bonds, residential and commercial mortgage-backed and asset-backed securities, adjusted duration in line with the benchmark Bloomberg Barclays Capital U.S. Aggregate Index and high average credit quality.

Credit

The key features of the Credit strategy include primarily investment grade corporate bonds, adjusted duration in line with the benchmark Bloomberg Barclays Capital U.S. Credit Index and high average credit quality.

Government/Credit

The key features of the Government/Credit strategy include a portfolio primarily invested in U.S. Government and corporate investment grade fixed income securities, adjusted duration in line with the benchmark Bloomberg Barclays Capital U.S. Government/Credit Index and high average credit quality.

Intermediate Aggregate

The key features of the Intermediate Aggregate strategy include a portfolio diversified across U.S. Government, corporate bonds, residential and commercial mortgage-backed and asset-backed securities with maturities between 1 and 10 years, adjusted duration in line with the benchmark Bloomberg Barclays Capital Intermediate Aggregate Index and high average credit quality.

Intermediate Government/Credit

The key features of the Intermediate Government/Credit strategy include a portfolio that is primarily invested in U.S. Government and corporate investment grade fixed income securities with maturities between 1 and 10 years, adjusted duration that typically matches the benchmark Bloomberg Barclays Capital Intermediate U.S. Government/Credit Index and high average credit quality.

Long Liability Driven Investment (LDI)

The key features of the Long Liability Driven Investment (LDI) strategy include services and solutions customized to match invested assets with projected liabilities while striving to maximize returns and resulting surplus of assets.

Short Term

The key features of the Short Term strategy include a portfolio primarily invested in U.S. Government and corporate investment grade fixed income securities with maturities between 1 and 3 years, adjusted duration in line with benchmark Bloomberg Barclays Capital 1-3 Year Government/Credit Index and high average credit quality.

MFIM High Yield Fixed Income

High Yield

The High Yield investment strategy focuses on below investment grade corporate securities with an emphasis on small-to-mid sized capitalization companies. We believe this segment of the market provides the strategy with the potential for above average income and repeatable opportunities to add alpha in the high yield asset class given our ability to develop a proprietary information advantage in these smaller names. Our philosophy is also heavily grounded on the belief that industry selection, especially the avoidance of bubble industries from their inception, is a primary driver of alpha. The benchmark is the Bloomberg Barclays U.S. Corporate High Yield Index.

Bank Loan

The bank loan strategy includes a portfolio whose major concentration is in syndicated leveraged loans issued by corporate borrowers, which includes both first and second lien loans as well as equity securities obtained in exchange offers or insolvency proceedings. It is benchmarked against the Credit Suisse Leveraged Loan Index, and has been actively managed since its inception, as of August 31, 2007.