Corporate

Investment Overview

  • The DBF Corporate Composite includes all fixed income accounts, greater than $2 million, which contain exclusively USD-denominated corporate bonds.
  • The accounts typically maintain duration between 2 and 7 years.
  • Cash is not held as a tactical allocation. No derivatives are used.
  • The accounts are benchmarked to the Barclays U.S. Corporate 3-5 Year Index.

Composition as of December 31, 2017

Benchmark

The benchmark for the DBF Corporate Composite is the Barclays U.S. Corporate 3-5 Year Index and its returns are shown for comparison purposes only. The benchmark consists of investment grade, fixed-rate, taxable, USD-denominated securities issued by US and non-US industrial, utility, and financial issuers with remaining time to maturity of 3 to 5 years. The benchmark is a sub-index of the Barclays US Corporate Index. The benchmark index returns include the reinvestment of income and dividends but do not include management fees and transaction costs.  Both DBF returns and index returns reflect the reinvestment of dividends and other earnings. Indices are included for comparison purposes only and do not include transaction costs.  Volatility, number of issues, capitalization size, year-to-year return history, and other security attributes of the indices differ from the attributes of the DBF portfolios.

Company Description

D.B. Fitzpatrick (DBF) is an independent investment management firm established in 1984 and is registered with the U.S. Securities and Exchange Commission and the Idaho Department of Finance.  Registration does not imply a certain level of skill or training.  DBF manages a variety of equity, fixed-income, and balanced assets for institutional and individual clients.  DBF also manages the Idaho Commercial Mortgage Program which offers local funding to institutional grade Idaho commercial properties.

Notes:
  1. Future returns will depend on future allocation decisions.  Past performance is no guarantee of future results.  The investment return and principal value will fluctuate so that when redeemed, investments may be worth more or less than the original cost.
  2. Any investment, including DBF’s portfolios, has the potential of generating losses as well as profits.