Yield Enhanced

The investment objective is relatively enhanced yield, credit exposure and core duration. The portfolio is diversified, with no single issuer representing more than 10% of portfolio assets. 

Comprised entirely of mortgaged-backed securities (MBS) issued by U.S. government agencies (Fannie Mae, Freddie Mac, or Ginnie Mae), Piton's Government MBS strategy seeks to preserve capital and provide government backed yields in excess of the more traditional government-backed sectors. We use our decades of MBS experience and expertise to provide clients with direct access to the second largest fixed-income market in the world behind the U.S. treasuries.

For those looking for alternative options to traditional corporate high yield, Piton's Structured High Income Strategy (SHIS) is a tactical, actively managed portfolio that invests in customized structured income notes linked to large market-cap companies or broad market indices. The strategy seeks to build a portfolio of customized income notes around single name stocks or indices that have high degrees of implied volatility and are fundamentally or technically attractive. These types of securities, known as reverse convertible structured notes, seek to generate income by synthetically selling options on the underlying individual equities or indices and paying out the proceeds in the form of predetermined, periodic coupons. These notes also are structured to provide some form of downside protection to the note investor.