Nomura Asset Management·2026-05-01·via All Articles on Seeking Alpha
Summary
For 1Q, Nomura Corporate Bond Fund Institutional Class shares underperformed the Fund's benchmark, the Bloomberg US Corporate Bond Index.
Security selection contributed to performance, driven by an underweight to long-dated issues which lagged amid a Treasury selloff.
Security selection generated positive performance for the quarter, driven in part by avoiding Paramount, which was downgraded to high yield after winning the bidding war for Warner Brothers.
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Market review
Bloomberg US Corporate Bond Index credit spreads widened 11 basis points (BPs) in 1Q26, underperforming duration-matched Treasurys by 49 bps and generating a -0.54% total return. The energy sector led performance as West Texas Intermediate (WTI) crude prices surged more than
