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MVP's fixed-income process follows a disciplined approach by concentrating
primarily on three portfolio characteristics: maturity structure,
sector allocation and duration. The major sectors of our fixed-income
universe include:
- Treasuries
- Agencies
- Mortgage pass-thrus
- Investment-grade corporate bonds
The portfolio's duration is constrained to 80% - 120% of the appropriate
benchmark in order to avoid undue risk. Portfolios are broadly diversified
and highly liquid. The benchmarks most closely aligned to our fixed-income
products are the Lehman Government/Credit, the Lehman Aggregate
and the Lehman Intermediate Government/Credit Indices.
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