Our Philosophy

As a bond fund manager in the early 1990s, Peter saw clients paying high fees for one size-fits-all investment solutions. He believed Breckinridge could create a better product at a better price. Leveraging technology, we delivered investment grade fixed income separate accounts customized to client-centric goals.

In a separate account, the investor has the advantage of owning each bond's cash flow of coupon and principal—income and capital—regardless of market conditions. “We built a research team and technology platform that allows us to efficiently monitor bond holdings, and actively manage portfolios, while preserving the important advantage of owning bonds directly in a separate account, ” says Co-Head of Portfolio Management Matt Buscone.

Market disruption during the Global Financial Crisis proved the value of our philosophy. The transparency of separate accounts helps to allay client anxiety. “We could point to each bond owned in their accounts and explain to clients why we believed each issuer was a safe, reliable borrower,” Senior Portfolio Manager Sara Chanda says.

Following the financial crisis, our investment process expanded to include assessing how ESG factors may affect future risks and costs.

“Our initial effort was all about trying to understand our borrowers better and finding ways to systematically assess non-traditional, off-balance sheet risks” says Adam Stern, Co-Head of Research. “In short-order, our investment process included integrating ESG factors into our research process.”

“We look beyond financial results for ESG risks that may exist in an issuer’s operating model,” Co-Head of Portfolio Management Jeff Glenn, says.

“Our research process aims to identify potential future costs due to unsustainable present practices that may impact credit risk and ultimately the spread or price of a bond,” says Nick Elfner, Co-Head of Research.

“Integrating sustainable investing practices into our philosophy also expanded our capacity to meet the needs of investors seeking to align investment portfolios with their values,” explains Phil Newell, Senior Counsel, Business Development Strategies.

Breckinridge’s trading platform is exclusive to the firm. “Our trading platform is a real-time window into the marketplace,” says Ben Pease, Head of Municipal Trading. “Traders have a comprehensive view of new deals and bond offerings linked to internal credit opinions and portfolios with matching needs; important information needed to recognize value and to purchase bonds that are appropriate to address portfolio objectives.”

“Because of our independence and scale," says Chris Day, Co-Head of Consultant Relations, "we can reinvest in our business with the singular intent of enhancing our ability to meet the needs of our stakeholders.”

We are continually challenged to be more insightful, more efficient and deliver greater value to our clients.