Wasmer, Schroeder & Co. Jobs and Profile

Wasmer, Schroeder & Company, Inc. has developed a multi-year history of performance results which has consistently matched or exceeded relevant benchmarks, with less volatility and less risk.

We continue to focus on capital preservation and the maintenance of purchasing power; observing that over a long term horizon, maximizing the income on a portfolio will produce the best results for our clients.

Wasmer, Schroeder & Company, Inc. adheres to a discipline whereby we maintain a process which, in aggregate, results in consistent  performance over multi-year periods.  Since our results are comprised of a number of components, an adverse change in one of these components would not necessarily result in relative under-performance.

The following elements contribute to our overall results:

• Buy/Sell Execution Efficiency
• Credit Research
• Yield Curve Positioning
• Portfolio Structuring/Diversification
• Bond Structure (i.e., Callable/Non-Callable, Revenue Source, Optimal Couponing)
• Opportunistic Swapping

All of these are disciplines representative of active management, and when combined, provide cumulative positive results relative to the appropriate benchmark.

Since our style of management can be characterized as extracting systematic inefficiencies within given markets and not rapid shifts in relative portfolio over or underweights, scale does not become prohibitive.  An example of a prohibitive style is the use of interest rate bets as a key driver of performance.  This requires the ability to quickly shift duration relative to benchmark levels.  Given the reduced trading efficiency in the separately managed account space relative to mutual funds, this style of management becomes prohibitive when scale increases significantly.  This source of performance is therefore not a key driver in our management style.  Our portfolios are typically managed with a +/- 10% band around the benchmark duration and shifts are modest within the band.