Pugh Capital has been managing active fixed income portfolios since 1991. Our focus on downside risk management is not just a philosophy, it’s a discipline.
Our investment philosophy is rooted in the belief that fixed income inefficiencies can be exploited over a market cycle and that volatility provides opportunity. Our goal is to surpass clients’ expectations related to risk management and consistent risk-adjusted returns.
Our investment process is designed to capitalize on market inefficiencies while providing capital preservation and downside risk protection. The process combines top-down macro views, bottom-up fundamental research, downside risk management, and ongoing process enhancements. Investment ideas are developed through this process, with responsibility shared by the CIO, portfolio managers and analysts. A key differentiator of our process is our boutique model and team-based approach, which helps ensure that all perspectives are heard. The depth and breadth of our investment professionals’ experience also enhances our investment process. Several elements of each phase are summarized below.
*Past performance is not a guarantee or a reliable indicator of future results. Investing involves risk; principal loss is possible. Investors should carefully consider risk when investing in bonds, which include, but are not limited to, default, credit rating, interest rate, duration, prepayment, liquidity, and structural risks. There is no guarantee that investment strategies presented will work under all market conditions. Risk management processes cannot eliminate the risk of losses. Diversification does not assure a profit nor protect against loss in a declining market. Each investor should evaluate their ability to invest for the long-term, especially during periods of downturn in the market. Refer to the Legal & Disclosures section for additional disclaimers and disclosures regarding performance, risk, and investment process.
Information presented is for informational purposes only. It is not intended as investment advice. Nothing in this publication is a solicitation of any type. For U.S. institutional investors only. Please review Pugh Capital’s Form ADV Part 2A for important information about risk, services offered, and fees, which is available upon request. Please contact Deanna Hobson, Executive Vice President, Marketing & Client Service, at (206) 322-4985, or write Pugh Capital Management, 520 Pike Street, Suite 2900, Seattle, WA 98101, or firstname.lastname@example.org.