The Mutual Advantage

Fixed-Income Specialists
Guiding with Confidence Through All Markets

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We are committed to serving the institutional marketplace by offering fixed-income investment solutions with client-focused services.

These solutions are accessible through separate accounts, sub-advisory relationships and various commingled vehicles.

With over $41 billion in assets under management as of July 31, 2025, we are dedicated to creating value through a prudent, thoughtful and rigorous investment decision-making process.

Our Firm & Culture

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Our tailored investment strategies incorporate a unified investment philosophy and process across the fixed income risk spectrum.

Experience, Performance and Stability

31 Investment Specialists & Professionals
36 Year Track Record as an Independent Business
$41.1B Assets Under Management
  • $31.3B Insurance
  • $1.7B Separately Managed Accounts and Pooled Vehicles
  • $8.1B Manager of Managers
As of July 31, 2025

Thought Leadership & Market Insights

Nominal Spreads on Mortgage-Backed Securities Remain Wide Relative to Investment-Grade Corporates

Nominal Spreads on Mortgage-Backed Securities Remain Wide Relative to Investment-Grade Corporates

By John Swarr | September 11, 2025

The nominal spread for an agency mortgage-backed security (MBS) is the difference between the MBS yield and a Treasury security with a comparable maturity. It measures the extra yield the MBS earns over benchmark Treasuries, typically a …

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