NCRAM’s flagship High Yield Total Return Strategy represents the length and depth of the team’s experience managing high yield assets since 1991. This strategy is NCRAM’s most opportunistic, with the flexibility to invest across the credit quality spectrum.
Experienced team
NCRAM has specialized in high yield investing since 1991, identifying opportunities through various market conditions
Disciplined approach
The dedicated team selects strong and improving credits, seeking extra yield and price return while avoiding credit problems
Competitive performance
Delivering consistent, competitive risk-adjusted returns and continuing to drive alpha are paramount
NCRAM’s “Strong Horse” investment philosophy leads the team to seek reliable companies with improving credit quality, while also balancing risk and reward.
The team’s bottom-up, fundamental research-driven process seeks to identify value and avoid credit problems, while also expressing top-down themes.
NCRAM’s four most senior investment professionals have worked together for more than 20 years, and this stability has helped drive success through various market conditions.
NCRAM’s investment process is designed to deliver consistent returns through disciplined bottom-up credit selection, active top-down posture calibration, and rigorous risk management, implemented via a well-diversified portfolio.
The team characterizes its investment process as a fundamental, bottom-up approach with a top-down overlay and generally attributes alpha generation through a full market cycle to being 70% bottom-up and 30% top-down.
Each month, the chief investment officer of Nomura Corporate Research and Asset Management authors an update for investors.
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info@nomuraassetmanagement.com
Risk Disclosure
As of December 1, 2025, Nomura Holding America Inc. completed the acquisition of Macquarie Asset Management's US and European public investments business.
Nomura Asset Management is part of the Investment Management Division of the Nomura Group, providing integrated public and private market asset management services across equities, fixed income, private credit and multi-asset solutions to intermediary and institutional clients. Nomura Asset Management primarily operates through several distinct investment managers, which include Nomura Capital Management LLC, Nomura Corporate Research and Asset Management Inc., Nomura Investment Management Business Trust (consisting of the Nomura Alternative Strategies, Nomura Investment Management Advisers, Nomura Investments Fund Advisers, Delaware Capital Management, and Delaware Management Company series), Nomura Investment Management Europe S.A., and Nomura Investment Management Austria Kapitalanlage AG. Under certain circumstances, investment advisory services are also provided by Nomura Asset Management U.K. Limited and Nomura Asset Management Australia Pty Limited, which are Nomura Group companies.
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