We see opportunity differently

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TSW's disciplined investment process is designed to identify opportunity where mispricing results from indifference, low expectations and sometimes even outright disdain. Our focus is on buying businesses at a discount to their intrinsic value and using a diversified portfolio of differentiated ideas to drive superior returns.

TSW embraces a probabilistic approach to risk. We work to understand the probabilities associated with a range of outcomes in an uncertain world. Return potential is best when uncertainty about outcomes creates a gap between market price and intrinsic value. Certainty is an expensive illusion, and the popular path is littered with disappointments.

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TSW Core Plus

Asset Class / Style Intermediate Bond / Value
Vehicles Available Separate Account
Product Commentary N/A
Disclosures GIPS® Disclosure - Core Plus
Annualized Performance: Total Return
2Q22 1 Year 3 Years 5 Years 7 Years 10 Years
TSW Core Plus (gross) -4.13 -8.81 0.73 2.08 2.65 2.97
TSW Core Plus (net) -4.17 -8.99 0.56 1.90 2.47 2.75
Bloomberg U.S. Aggregate Index -4.69 -10.29 -0.93 0.88 1.42 1.54

Performance represents the Core Plus composite and is preliminary. Past performance is no guarantee of future results.

The time-weighted Gross and Net performance stated above reflect the deduction of brokerage commissions and the reinvestment of dividends and other income. Gross performance does not include the deduction of investment management fees. The full disclosure statement is located at the top of the page in the "Disclosure" area.

The portfolio is actively managed and holdings are subject to change, and should not be considered as investment recommendations to buy individual securities.