"The opportunity for favorable risk adjusted returns in preferred securities can be quite compelling, especially in light of the global product evolution underway..." - Phil Jacoby, CIO
Spectrum Asset Management is a world-leading manager of preferred securities, with over US$18.6 billion in assets under management as of June 30, 2015, which includes $1.7 billion in SMA advisory assets. 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 twenty 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 CommentariesSeptember 21, 2015
Greece Bailout Intact Despite Voter Fatigue

July 16, 2015
Obstacles Remain for Greece’s Euro Inclusion

July 7, 2015
Greece Votes No: What Now?

July 1, 2015
Greek Crisis: Coming to a Head

May 27, 2015
Moody's and Fitch Adjust Global Bank Ratings - Positive for Hybrids

May 14, 2015
Progress in Greek/Euro Talks - Much More Needed

Press Room and PublicationsSeptember 3, 2012
Spectrum CIO Phil Jacoby speaks about Mitigating Risk When Investing in Preferred Securities in The Wall Street Transcript

May 2, 2012
Spectrum CIO Phil Jacoby speaks about Opportunities in Bank Recapitalization at the Milken Institute Global Conference 2012

January 2012
Bail-in Capital: The New Box. Manu Krishnan and Phil Jacoby. Proceedings of the World Finance Conference (Rio de Janeiro), pp 29, 2012. [PDF].