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 intended 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. We believe 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
4Q22 1 Year 3 Years 5 Years 7 Years 10 Years
TSW Core Plus (gross) 2.16 -9.75 -0.42 1.59 2.42 2.45
TSW Core Plus (net) 2.10 -9.93 -0.61 1.41 2.24 2.24
Bloomberg U.S. Aggregate Index 1.87 -13.01 -2.71 0.02 0.89 1.06

Benchmark: Bloomberg Aggregate Bond.  Benchmark Source: FactSet

 Periods less than one year are not annualized. Performance represents the Core Plus composite. Performance is shown gross and net of management fees and includes reinvestment of dividends and other income. Gross returns will be reduced by investment advisory fees and other expenses that are incurred in the management of the account. Net of fee performance was calculated using the actual management fees charged. These figures have been rounded to the nearest hundredth.  Past performance is no guarantee of future results. It is not possible to invest directly in an index. Performance disclosures and index description can be found here.

Please see Risk Disclosures for important information.