"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$17.6 billion in assets under management as of December 31, 2014. 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 eighteen 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 CommentariesMay 27, 2015
Moody's and Fitch Adjust Global Bank Ratings - Positive for Hybrids

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

April 27, 2015
Special Report: Tax Deductible "Equity": Insurance Hybrid "Obligations"

April 6, 2015
Low Interest Rates Manageable For Insurance Co

March 16, 2015
US Banks Pass Fed Comprehensive Capital Analysis and Review

March 6, 2015
Ongoing Bank Litigation: A Manageable Risk

January 26, 2015
Greece's Government Changes Hands, As Expected

January 26, 2015
European QE: Implications For Banks

January 23, 2015
ECB's QE Program Better Late Than Never

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, World Academy of Science, Engineering and Technology 61 2012, Manu Krishnan and Phil Jacoby