US Structured Finance
Overview

Objective

The strategy seeks to outperform the benchmark over a full credit cycle

Benchmark

Bloomberg US Securitized Index

Investment Style
  • Credit-intensive strategy
  • Fundamental, research-driven process
  • Focus on relative value and opportunistic total return
  • Credit cycle-based approach

Universe
  • Residential mortgage-backed securities (RMBS)
  • Commercial mortgage-backed securities (CMBS)
  • Asset-backed securities (ABS)

Inception Date

January 1, 2004

Vehicles & Minimums
  • Separate account minimum: $50 million

 

Characteristics

 

 

Source: Aegon AM. Percentages based on market value as of March 31, 2025. Numbers may not add due to rounding. The above information represents the top 10 largest long positions in the representative account based on the aggregate dollar value. The specific securities identified and described do not represent all of the securities purchased, sold, or recommended for the account and the reader should not assume that investments in the securities identified and discussed were or will be profitable. All information is provided for informational purposes only and should not be deemed as a recommendation to buy the securities mentioned. Top 10 holdings excludes cash and cash equivalent positions. Click here for term definitions.

 

**Effective June 1, 2022, credit quality calculations are sourced to Aegon AM and reflect a proprietary methodology. Credit quality calculations prior to June 1, 2022, may be different. Credit ratings for the portfolio reflect the Bloomberg Indices credit quality methodology which is the middle rating of the three agencies, if only rated by two agencies it uses the lower rating and if only rated by one entity it uses that rating. Ratings are calculated by applying the methodology to available ratings from rating agencies. If the rating is NR on a structured security, the methodology will look to both DBRS and Kroll and use the lower rating; if rated by one, use that rating; else it will remain NR. Average Quality excludes cash and securities that are not rated. The credit quality of a security or group of securities does not ensure the stability or safety of the overall portfolio. NR includes securities that are not rated by S&P®, Moody’s®, or Fitch and may contain bonds, equities and/or bank loans.

 

***Yield-to-worst should not be interpreted as performance. Request composite trailing return data here.

Portfolio managers
Jim Baskin, CFA, CPA
Head of US Private Structured Finance

Jim Baskin, CFA, CPA, is head of US private structured finance responsible for expanding the firm's global private structured finance capabilities.

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Tyler Knight, CFA
Head of US Public Structured Finance

Tyler Knight, CFA, is head of US public structured finance responsible for the overall strategy and portfolio management of structured finance-related strategies as well as leading a team of US structured finance investment managers.

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Important Disclosures

Offered by Aegon Asset Management US

Structured Finance assets (such as ABS, RMBS, CMBS and CLOs) are complex instruments and may not be suitable for all investors. The assets may be exposed to risks such as interest rate, credit, liquidity, issuer, servicer, underlying collateral, prepayment, extension, and default risk. Investors typically receive both interest and principal payments for a security, and these prepayments may reduce the interest received and shorten the life of the security. Although some types of structured finance securities may be generally supported by a form of government or private guarantee, there is no assurance that guarantors will meet their obligations.