Strategy

We harness the potential of one of America's most vital resources — housing.

Through a strategic focus on mortgage-backed securities, we generate compelling yields while supporting the strength and stability of the U.S. housing market and reinforcing the value of homes, businesses, and communities nationwide. Real estate is more than the American dream; it’s a resilient foundation for growth and security.

Global Macro Vision. Resilient Teams. Disciplined Processes.

We employ a global, top-down macroeconomic approach that informs our disciplined risk management—guiding asset allocation and protecting investor value across market cycles. Our focus on developing strong decision-making teams with mental resilience at their core ensures each team member is equipped to navigate complex markets and make sound investment choices. We rely on robust, systematic processes that ensure consistency and oversight in every investment decision.

Our Proven Process

Macroeconomic Insight

A global view of monetary and fiscal policies, assessing evolving scenarios for informed decisions.

Advanced Investment Analysis

A multifaceted approach combining fundamentals, technicals, and psychology to evaluate absolute, relative, and risk-adjusted returns, plus supply/demand dynamics.

Proven Financing & Hedging Expertise

Decades of industry relationships, supported by rigorous sensitivity analyses of credit, interest rates, liquidity, and market values.

Preparation for Decision Making

Disciplined processes creating resilient teams prepared to navigate volatile conditions, ready for swift and informed choices in the most challenging market moments.

Holistic Risk Management

Disciplined oversight of interest rate, credit, prepayment, and liquidity risks to safeguard consistent performance.

Regulatory Savvy

A strategic grasp of rules, competition, and financing availability to optimize asset opportunities.

Aligned and Sustainable by Design

Building on more than four decades of experience, we concentrate on liquid, financeable securities that better withstand market volatility. Securities strategies have consistently demonstrated staying power. This disciplined, securities-focused approach positions investors for long-term growth and stability. We foster a culture of accountability and alignment as our leadership is invested alongside shareholders.