The opportunity for favorable risk adjusted returns in
preferred securities can be quite compelling, especially
in light of the
global product evolution underway...

Spectrum Asset Management is a world-leading manager of preferred securities, with over US$13.4 billion in assets under management as of December 31, 2011. Spectrum was founded in 1987 and has been a wholly owned and independently run affiliate of Principal Global Investors, a member of the Principal Financial Group®, since 2001. Spectrum has a team of seventeen dedicated investment professionals and is based in Stamford, Connecticut.

Spectrum manages portfolios of preferred securities for an international universe of corporate, pension fund, insurance and endowment clients, open-end and closed-end mutual funds domiciled in the United States, Ireland and Japan, and separately managed account programs for high net worth individual investors sponsored by a variety of broker-dealers.

Spectrum has produced a record of strong performance by consistently implementing its fundamental credit-based investment philosophy, leveraging its expertise in capital structure analysis and employing and retaining its experienced team of investment professionals.
Market Commentaries January 11, 2012
Preferred Market Update - 4Q 2011

December 23, 2011
Rating Agency Revisions Continue

December 1, 2011
Global Bank Debt Ratings Actions Come As No Surprise

Press Room January 4, 2012
Yields on BofA Trust Preferreds Tempt Investors, Bloomberg

February 7, 2011
Strategies for Investing in Preferred Securities, an Interview with L. Phillip Jacoby, The Wall Street Transcript

September 29, 2010
Treasury to Sell $2.2 Billion Citigroup Bailout Trups, Bloomberg

September 8, 2010
Spectrum Asset Calls on Fed to Block Banks' TruPS Redemptions Until 2013, Bloomberg