Investment Objective

Our goal in the TIM Core Aggregate Fixed Income portfolios is to consistently outperform the benchmark index and to generate top quartile performance over a full market cycle (typically 3-5 years).

Philosophy

  • Fundamental and research driven approach to security selection to identify and exploit mis-pricings in the least efficient sectors of the fixed-income universe
  • Identify companies that have superior management with experience and a history of success
  • Identify companies that have superior business models with good growth potential
  • Additional alpha achieved through active management of duration, yield curve and sector positioning
  • Seek issues with prudent management of debt/capital structure

Portfolio Structure

  • Portfolios are generally invested in investment grade bonds with maturities ranging from zero to 30 years
  • Portfolios are generally fully invested and not subject to wide swings in duration
  • Well diversified by issue, industry and sector
  • By-product of philosophy is low turnover

Monthly Returns available upon request:

info@timllc.com

Current quarter returns subject to performance examination. Performance represents the dollar weighted results of all accounts with substantially similar investment objectives, policies, strategies and risks present for the entire quarter managed by Transamerica Investment Management, LLC. Non-performance material such as, but not limited to, portfolio level fundamentals are deemed supplemental and complements the performance disclosure below which is an integral part of this presentation. 

Core (Aggregate) Fixed Composite contains fully discretionary aggregate bond accounts, including mortgage backed securities. For comparison purposes the composite is measured against the Lehman Brothers Aggregate Bond Index.  This composite was previously known as Aggregate Bond Composite.  The minimum account size for this composite is $10 million.  

Transamerica Investment Management, LLC has prepared and presented this report in compliance with the Global Investment Performance Standards (GIPS®). 

Transamerica Investment Management, LLC is an SEC-registered investment adviser, which commenced operations as of January 1, 2000.  Transamerica Investment Management, LLC is controlled by Transamerica Investment Services, Inc., which became part of the AEGON Group of companies in July 1999.

Results are based on fully discretionary accounts under management, including those accounts no longer with the firm. The U.S. Dollar is the currency used to express performance. Returns are presented gross and net of management fees and include the reinvestment of all income. Net of fee performance was calculated using the highest management fee of 0.35% applied monthly. The annual composite dispersion measure presented is an asset-weighted standard deviation calculated for the accounts in the composite the entire year. Additional information regarding policies for calculating and reporting returns is available upon request. Past performance is not indicative of future results and individual account performance may vary.    Past performance is not indicative of future results and individual account performance may vary.

The Core (Aggregate) Fixed Income Composite was created July 1, 2003. Transamerica Investment Management, LLC’s compliance with the GIPS standards has been verified for the period January 1, 2000 through December 31, 2007 by Ashland Partners & Company LLP. In addition, a performance examination was conducted on the Core (Aggregate) Fixed Income Composite beginning August 1, 2001. A copy of the verification report is available upon request. The firm maintains a complete list and description of composites, which is available upon request.

The investment advisory fees* for institutional accounts in the Aggregate Bond Composite are as follows:

First $25 million 0.35%
Next $25 million 0.30%
Nex $50 million 0.25%
Next $150 million 0.20%
Remaining assets 0.15%
*Fees may be negotiated, depending on various factors, which may include the services required by the client and the size of the account.

 

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