Since bonds are actually loans, we look at credit quality and value before investing a single dollar into any security.
We maintain and dynamically assess a list of acceptable companies whose bonds we welcome into our managed portfolios. Among the characteristics we demand are:
- Strong balance sheets
- Healthy cash flow
- Stable, preferably growing, operations
- Outside affirmation from credit agencies such as Standard & Poor’s and Moody’s.
Every day we evaluate interest rate levels in each major fixed income sector. When cash is available, we scour the markets for bonds of approved issuers whose yields well exceed those of credit-quality peers in the target maturity range.
The professionals at Byrne Asset Management have managed fixed income portfolios since the early 1980’s. We have successfully guided client assets through double digit inflation, recessions, and multiple debt crises. We managed and advised mutual funds, foundations, and pension plans, handling about every type of security out there, including “junk” bonds, convertibles, mortgage-backed securities, derivatives (options and futures), and international debt. As we stick to our investment grade “knitting”, our clients can be confident that our wide purview serves the goals of safety and return quite well.