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Fixed Income

 
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Meeting Your Fixed Income Liquidity Needs

How can Northern Trust meet your fixed income needs?

  • A Consultative Approach. We work with you to create a portfolio that seeks risk-efficient and cost-effective market exposure based on your risk and return objectives.
  • Breadth and Depth. We offer a number of funds and separately managed account structures — from cash management to long duration across multiple investment vehicles and currencies — in both active and index strategies.
  • Range of Vehicles. Choosing the right vehicle is critical to your investments' success. Our comprehensive selection process considers tax status, domicile, liquidity, compliance and flexibility.
  • Comprehensive Oversight. Our integrated risk management and compliance oversight process ensures a consistent, efficient and controlled investment processes at every stage of the investment cycle.

Northern Trust takes a consistent approach to active fixed income management, focusing on identifying relative value at the issue and sector level, while closely monitoring and controlling portfolio risk relative to your chosen benchmark. Our emphasis on areas where we believe you will be compensated for moving away from benchmark exposure has resulted in superior risk-adjusted returns.

Proven Investment Philosophy

  • We use multiple investment strategies, including sector rotation, issue selection, and duration and yield curve management, to focus on total return.
  • Our investment process integrates portfolio management, strategy, research and trading to uncover "relative value."
  • Through our rigorous buy and sell discipline, we seek to add value by underweighting or avoiding problem credits and sectors.

Experience Supported by Research

Our experienced team of portfolio managers is supported by our proprietary credit research, and uses state-of-the-art technology to support quantitative decision-making. Our in-house economic research group conducts extensive fundamental analysis of the domestic and international macroeconomic environments. This research is used to determine value at the sector and security level.

Providing you Intelligent Indexing® Solutions

Maximizing returns while minimizing costs and preserving wealth. This is the ultimate goal for most investors. Northern Trust's Intelligent Indexing process helps investors achieve this goal through a disciplined investment approach focused on minimizing tracking error and managing total costs.

You can experience risk-efficient, cost-effective market exposure thanks to our Intelligent Indexing fixed income approach, which features:

  • Knowledgeable sampling
  • Cost-sensitive trading
  • Effective management of index changes

What Makes Intelligent Indexing Different?

  • Portfolio Construction – A thoughtful process of stratified sampling, supported by highly detailed, sector-specific analysis.
  • Diligent Trading – A critical focus on trading costs, especially bid/ask spreads, trade timing, selection of securities among close substitutes and intraday volatility.
  • Thorough Analysis – Ongoing analysis of index strategies, reducing performance drag and providing periodic opportunities to add incremental value to portfolios.

Want to Learn More?

Find out how Northern Trust's fixed income management capabilities can help meet your investment objectives.

Fred Azar

Fred Azar

Director of Fixed Income Business Management
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Fred Azar

Fred Azar

Director of Fixed Income Business Management
 
Fred A. Azar is the Director of Fixed Income Business Management. In this role he is responsible for product development, management of existing products, communication of product performance, and education regarding Fixed Income capabilities, philosophy, and investment process. He represents the Fixed Income group in its interactions with our internal auditors, risk and compliance managers, marketing, and sales. Prior to his current role, he was Director of Core Strategies, responsible for overseeing actively managed fixed income investments for institutional and high net worth clients in mutual funds and separately managed accounts. Prior to this, he was a Senior Portfolio Manager in the Short Duration Fixed Income Group, managing cash, ultra short, and short bond investments.

Prior to joining Northern Trust in 2004, Fred was a Senior Portfolio Manager for the Harris Private Bank, where he managed separate account investments for high net worth and small institutional clients. He began his career in 1991, working as a trader within the Securities Lending Division of Harris Bank.

Fred received a B.S. degree in Accounting and Business Administration and an MBA from the University of Kansas. He is also a Certified Public Accountant.

Insights & Research

 

Point of View

 
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MONEY MARKET REFORM

New SEC rules governing money market funds take effect soon. How is our fund lineup changing and what do clients need to know?

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Point of View
Investment insights, trend analysis and timely commentary from our investment experts.
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© 2016 Northern Trust Corporation. Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A. Incorporated with limited liability in the U.S. Products and services provided by subsidiaries of Northern Trust Corporation may vary in different markets and are offered in accordance with local regulation. For more information, read our legal and regulatory information about individual market offices.

Northern Trust Asset Management is composed of Northern Trust Investments, Inc., Northern Trust Global Investments Limited, Northern Trust Global Investments Japan, K.K., NT Global Advisors, Inc., 50 South Capital Advisors, LLC, and personnel of The Northern Trust Company of Hong Kong Limited and The Northern Trust Company. This material is directed to professional clients only and is not intended for retail clients. For Asia-Pacific markets, it is directed to expert, institutional, professional and wholesale investors only and should not be relied upon by retail clients or investors. Issued in the United Kingdom by Northern Trust Global Investments Limited.