Thornburg Investment Management's Lon Erickson in Advisor Perspectives

A Top Bond Manager Explains His Bottom-up Approach

Lon Erickson, CFA, is a portfolio manager and managing director for Thornburg Investment Management. He joined Thornburg in 2008 and was made portfolio manager and managing director in 2010.
Tell me about your role at Thornburg, the management style you employ and the funds you oversee.
I am a portfolio manager for a lot of different funds with different strategies. I cover risk-free U.S. Treasury securities, asset-backeds, mortgage-backeds, the high-yield market and even some foreign markets and currencies. We take a very bottom-up perspective. We look at each individual security to manage the quantity, and the probability and timing of the cashflows. That way we can put each security on equal ground so that we’re able to make a relative-value comparison across things that are pretty different.
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