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Fixed Income Discipline

Our Fixed Income Discipline combines traditional actively managed fixed income funds and ETFs that represent favored sectors/segments/geographic locations with the inherent advantages of indexing and individual bond and note selections. We customize client portfolios by prudently selecting individual bonds/notes as well as identifying above average performing funds. Our proprietary due diligence process is a critical element to successful portfolio construction.

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The portfolio may maintain exposure to domestic as well as foreign or global funds when appropriate. We may also have positions in sector specific or market segment funds if conditions warrant such exposure.

We routinely monitor, screen, score and rank our fixed-income and equity funds. The proprietary model ranks all candidates according to more than 25 factors. We also incorporate the quantitative and qualitative work of third-party providers such as Morningstar® and Fi 360®.

The following represents some of the factors assessed:

  • Relative and absolute return over several time frames (quarter, one, three, five+ years if available)
  • Relative ranking to peers (quarter, one, three, and five+ years if available)
  • Manager tenure/experience – prefer above peer group management
  • Reasonable expense ratio, especially relative to return
  • West Chester Capital Advisors, Inc. proprietary screening, scoring and ranking discipline
  • Benchmark all decisions and comparisons to appropriate index/peer

We have a disciplined methodology to selecting, monitoring and eliminating fund positions. We may remove or replace a fund/security if one or more of these conditions occur:

  • Deterioration in relative or absolute return
  • Identification of better performing fund/company
  • Management or ownership change
  • Change in valuation of sector or market segment (rating changes to market neutral or underweight)

Consequently, we proactively manage the Fixed Income Discipline. The portfolio is client-specific and performance-centric.

Past performance is no guarantee of future results.