CS McKee: “I think in this market in particular, it’s a great time to have an active manager as opposed to a passive allocation.”

CS McKee: “I think in this market in particular, it’s a great time to have an active manager as opposed to a passive allocation.”

In this podcast, CS McKee Chief Investment Officer and Portfolio Manager Brian Allen and Mark Goodwin, Chief Executive Officer of North Square Investments discuss the fixed-income market, positioning for fixed-income portfolios and the outlook through the end of the year.

Click here to read the transcript

North Square McKee Bond Fund Principal Risks of Investing: Risk is inherent in all investing including an investment in the Fund. An investment in the Fund involves certain principal risks, including, among others: Fixed Income Securities Risk, Interest Rate Risk, Benchmark Rate Risk, Market Risk, Credit Risk, Liquidity Risk, Duration Risk, Mortgage-Backed and Asset-Backed Securities Risk, Negative Convexity Risk, Government Obligations Risk, Management and Strategy Risk, and Sector Focus Risk. Summary descriptions of these and other principal risks of investing in the Fund are set forth in the Fund’s prospectus. Before you decide whether to invest in the Fund, carefully consider these risks associated with investing in the Fund, which may cause investors to lose money. There can be no assurance that the Fund will achieve its investment objective. An investment in the Fund is not a deposit of the bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Please see the Fund’s prospectus for additional risk disclosures.

Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other in-formation is in the prospectus, a copy of which may be obtained by calling 855-551-5521. Please read the prospectus carefully before you invest.

Basis points, otherwise known as “bps,” are a unit of measure used in finance to describe the percentage change in the value or rate of a financial instrument. One basis point is equivalent to 0.01% (100 basis points = 1.0 percent).

A CMO is a collateralized mortgage obligation, and refers to a type of mortgage-backed security that contains a pool of mortgages pooled together and sold as an investment. Organized by maturity and level of risk, CMOs receive cash flows as borrowers repay the mortgages that act as collateral on these securities.

Duration is defined as the average maturity of all bond payments, where each payment is weighted by its value. In fixed income investing, duration is an essential tool for risk management, as it measures the sensitivity of an asset price to movements in yields.

The yield curve shows the interest rates that buyers of government debt require in order to be willing to lend their money over various periods of time — whether overnight, for one month, 10years or even longer. An inverted yield curve is considered to be unusual; it reflects bond investors’ expectations for a decline in longer-term interest rates, typically associated with recessions.

This podcast was recorded March 15, 2024. The opinions expressed herein are those of North Square Investments, LLC (North Square) and are subject to change without notice. The opinions referenced are as of the date of publication/distribution, may be modified due to changes in the market or economic conditions, and may not necessarily come to pass. Forward looking statements cannot be guaranteed. The discussions in our podcasts are for general informational purposes only and should not be considered as investment advice. The inclusion and performance of specific investments discussed represent only a sample of North Square’s Fund investments, and do not represent North Square’s Fund investments or performance as a whole. A complete list of North Square’s holdings is available upon request. There is no guarantee that any investments discussed at the time of this podcast will remain in North Square’s Fund(s). Past performance is not indicative of future results. It should not be assumed that any of the securities or companies discussed have been or will be profitable, or that investment recommendations or decisions we make in the future will be profitable. Nothing discussed herein constitutes an offer or recommendation to buy or sell a particular security or investment strategy. North Square reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs. There is no guarantee that North Square’s assessment of investments will be correct. The discussions, outlook, and viewpoints featured are not intended to be investment advice and do not take into account any specific investment objectives or risk tolerance you may have. Some information contained herein derives from third-party sources North Square believes to be reliable; however, accuracy and completeness cannot be guaranteed. Some material discussed represents an assessment of the market environment regarding a specific security or industry at a particular point in time and is not intended to be a forecast of future events or a guarantee of future results. The investment strategy or strategies discussed may not be suitable for all investors. Investors must make their own decisions based on their specific investment objectives and financial circumstances. No assurance, representation, or warranty is made by any person that any of North Square’s assumptions, expectations, objectives and/or goals will be achieved. Nothing contained in the document many be relied upon as a guarantee, promise, assurance, or representation as to the future. This discussion, including any hypothetical illustrations, are intended to form a basis for further discussion with your legal, accounting, and financial advisors. Actual future investment returns, taxes and inflation are unknown. Do not rely upon this report to predict future investment performance. North Square is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about the companies’ investment advisory services can be found in their respective form ADV, which are available upon request.


For a list of holdings, fund performance, prospectus and risks, please click here.

Diversification does not assure a profit or protect against loss in a declining market.

North Square Funds Distributed by Compass Distributors, LLC.


Martin Gawne