Fixed Income Investing with Philip Barach
March 6, 2014: 6:15 PM - 8:00 PM
FIXED INCOME INVESTING: Philip Barach talking on insights into the developments of the U.S. housing market and the dynamics of the MBS market
Chicago Booth Asia Campus
101 Penang Road
Singapore 238466, Singapore
Mortgage Backed Securities are a Fixed Income Asset Class offering attractive income and strong diversification, yet require extensive knowledge and expertise. The U.S. Mortgage-Backed Securities (MBS) market, as represented by the Barclays U.S. MBS Index (agency only), outperformed IG Corporate bonds and U.S. Treasuries in the rising rate environment of 2013.
The US Housing Market has recovered significantly since the depths of the financial crisis. Not surprisingly, the US mortgage backed securities market has appreciated substantially. Nevertheless, this under-researched fixed income asset class offers a number of opportunities to increase income, generate alpha and enhance diversification within a fixed income portfolio. In particular, the credit crisis proved that not all mortgage managers are equal. The MBS market requires extensive knowledge and analysis of both agency and non-agency MBS securities.
Please join us for this presentation by Philip Barach, President and Co-Founder of DoubleLine Capital LP (AuM USD47bn), Co-Portfolio Manager of the Nordea US Total Return Bond Strategy. Phil will share his insights into the developments of the U.S. housing market and the dynamics of the MBS market. He will also elaborate on both agency and non-agency mortgage backed securities and how to blends the two to achieve a better risk-adjusted balanced portfolio.
As dinner is being catered, please register with a firm commitment
6:15 PM-7:00 PM: Dinner and networking
7:00 PM-8:00 PM: Talk and Q&A
Philip A. Barach (Speaker)
President, DoubleLine Capital LP
Mr. Barach is co-founder and President of DoubleLine Capital. Prior to DoubleLine, Mr. Barach was Co-Founder and Group Managing Director of the TCW Mortgage Group where he spent over 23 years. He has over 32 years of fixed income investment experience. Before joining TCW, Mr. Barach was Senior Vice President of Chief Investments for Sun Life Insurance Company in Los Angeles, where he was responsible for the asset/liability management of the firm and oversight and management of the company's $5 billion investment portfolio. Previously, he served as Principal Fixed Income Officer for the California Public Employees' Retirement System (CalPERS), the largest pension plan in the country. In that capacity, he was responsible for managing the fixed income portion of the fund which was 100% internally managed. Mr. Barach was heavily involved in the creation of the collateralized mortgage obligations (CMO) while at CalPERS, he oversaw the issuance of one of the first private label CMOs using the retirement system's MBS portfolio. He attended the Hebrew University of Jerusalem, where he received a BA in International Relations and an MBA in Finance.
Arun Kelshiker, '09 (EXP-14)