Investment Objective
The objective of the TIM Core Plus Fixed Income portfolio is to consistently outperform the benchmark index and to generate top quartile performance over a full market cycle (typically 3-5 years).
Philosophy
- "Go-anywhere," best-ideas fixed income product
- Identifies at an early stage, secular trends that may be sources of
positive change for sectors or individual securities
- Credit-sector selection focuses on superior management, strong
financials and sustainable business models
Portfolio Structure
- Portfolios generally invest in a broad range of fixed income
securities and are well-diversified by issue, industry and sector
- Portfolios are generally fully invested in securities maturing in
zero to 30 years
- Portfolios may invest up to 20% of total assets in equity
securities
- Security selection, sector weightings, duration and term-structure
management are critical to generating excess returns
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
based on a representative account and are deemed supplemental and complements
the performance and disclosure below which are an integral part of this presentation.
CORE PLUS FIXED INCOME
COMPOSITE PRESENTATION
|
Period |
Total Firm
Assets
(Millions) |
Composite Assets |
Periodic Performance Results |
|
USD
(Millions) |
Number of Accounts |
Composite
Gross |
Composite
Net |
BC Aggregate Bond |
BC Gov/Credit |
Composite Dispersion |
|
2010 Q2 |
13,390 |
606 |
≤5 |
1.69% |
1.59% |
3.49% |
3.88% |
|
|
2010 Q1 |
16,768 |
614 |
≤5 |
4.62% |
4.52% |
1.78% |
1.55% |
|
|
2009 |
16,404 |
658 |
≤5 |
29.74% |
29.23% |
5.93% |
4.52% |
N/A |
|
2008 |
14,464 |
284 |
≤5 |
-14.09% |
-14.43% |
5.24% |
5.70% |
N/A |
|
2007 |
23,804 |
571 |
≤5 |
2.47% |
2.06% |
6.97% |
7.23% |
N/A |
|
2006 |
23,380 |
440 |
≤5 |
6.09% |
5.67% |
4.33% |
3.78% |
N/A |
|
2005 |
19,668 |
447 |
≤5 |
2.62% |
2.21% |
2.43% |
2.36% |
N/A |
|
2004 |
22,043 |
404 |
≤5 |
7.07% |
6.64% |
4.34% |
4.21% |
N/A |
|
2003 |
14,657 |
181 |
≤5 |
13.76% |
13.31% |
4.10% |
4.68% |
N/A |
|
2002 |
11,633 |
142 |
≤5 |
4.77% |
4.35% |
10.25% |
11.02% |
N/A |
|
2001 |
11,778 |
153 |
≤5 |
10.40% |
9.97% |
8.44% |
8.51% |
N/A |
|
2000 |
9,413 |
146 |
≤5 |
8.15% |
7.73% |
11.63% |
11.84% |
N/A |
|
1999 |
10,935 |
149 |
≤5 |
0.88% |
0.48% |
-0.82% |
-2.15% |
N/A |
|
1998 |
42,234 |
160 |
≤5 |
9.88% |
9.44% |
8.69% |
9.47% |
N/A |
|
1997 |
37,743 |
160 |
≤5 |
11.43% |
10.99% |
9.65% |
9.75% |
N/A |
|
1996 |
33,404 |
156 |
≤5 |
3.79% |
3.38% |
3.63% |
2.89% |
N/A |
|
1995 |
29,039 |
163 |
≤5 |
23.88% |
23.40% |
18.47% |
19.25% |
N/A |
|
1994 |
25,919 |
142 |
≤5 |
-3.87% |
-4.25% |
-2.92% |
-3.51% |
N/A |
N/A – Information is not
statistically meaningful due to an insufficient number of portfolios in the
composite for the entire year.
|
Performance Results as of June 30, 2010
(Results
for periods greater than 12 months have been annualized) |
|
|
YTD |
1 YEAR |
3 YEAR |
5 YEAR |
10 YEAR |
INCEPTION |
|
Composite Gross |
6.39% |
20.08% |
6.10% |
5.38% |
6.98% |
7.05% |
|
Composite Net |
6.18% |
19.61% |
5.68% |
4.96% |
6.55% |
6.62% |
|
BC Aggregate Bond |
5.33% |
9.50% |
7.55% |
5.54% |
6.47% |
6.30% |
|
BC Gov/Credit |
5.49% |
9.65% |
7.37% |
5.26% |
6.48% |
6.24% |
|
Historical Blended Benchmark |
5.33% |
9.50% |
7.79% |
5.51% |
6.60% |
6.32% |
Core Plus Fixed Income Composite
contains fully discretionary high quality fixed income accounts and for
comparison purposes is measured against the Barclays Capital Aggregate Bond
Index. The Barclays Capital Government/Credit Index was the primary
benchmark prior to January 1, 2009, and is currently presented as a
secondary benchmark. The benchmark change was made because the Aggregate
Bond Index more accurately reflects the strategy of the composite. This
composite was previously
known as
Investment Grade Plus Composite.
Beginning January 1, 2002, the minimum account size for this composite is
$10 million. Prior to January 1, 2002, no minimum account size was required.
Transamerica Investment Management,
LLC (TIM) is an SEC-registered investment adviser that commenced operations
on January 1, 2000. TIM is controlled by Transamerica Investment Services,
LLC (formerly Transamerica Investment Services, Inc.), which became part of
the AEGON Group of companies on July 21, 1999.
Transamerica
Investment Management, LLC has prepared and presented this report in
compliance with the Global Investment Performance Standards (GIPS®).
TIM’s compliance with GIPS has been verified for the period January 1, 2000,
through
June 30, 2008,
by Ashland Partners & Company LLP. In addition, performance examinations on
the Core Plus Fixed Income Composite were conducted by Ashland Partners &
Company LLP for the period since January 1, 2000. A copy of the verification
report is available upon request.
The
Core Plus Fixed Income
Composite was created on
July 1, 2001, and has an inception date of January 1, 1994. Performance
presented prior to January 1, 2000, was generated under Transamerica
Investment Services, Inc. The manager primarily responsible for performance
results prior to September 30, 2008, is no longer with the firm.
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 is calculated using the monthly fraction of the highest annual
management fee of 0.40%. The annual composite dispersion measure presented
is an asset-weighted standard deviation calculation based on 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. The firm maintains a complete list and description of
composites, which is available upon request.
The investment management fee schedule for the Core Plus Fixed Income
Composite is listed below; actual investment advisory fees incurred by
clients may vary.
First $25 million
0.40%
Next $25
million 0.35%
Next $50
million 0.30%
Next $150
million 0.25%
Remaining
assets 0.20%