About the Speaker

Nancy Davis
Managing Partner and CIO
Quadratic Capital Management, LLC
Nancy Davis is the founder and managing partner of Quadratic Capital Management, which she founded in 2013. Ms. Davis began her career at Goldman Sachs where she spent nearly 10 years, the last seven with the proprietary trading group where she rose to become the head of credit, derivatives, and OTC trading. She has been the recipient of numerous industry recognitions. Ms. Davis was named by Barron's as one of the "100 Most Influential Women in US Finance" and Institutional Investor called her a "Rising Star of Hedge Funds." The Hedge Fund Journal tapped her as one of "Tomorrow's Titans."
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Speaker Schedule
Wednesday, March 12, 2025, 11:25 am - 11:59 am EDT
How “Core” is Your Bond Portfolio
Nancy Davis |Quadratic Capital Management, LLC

Many investors utilize products tied to the Bloomberg US Aggregate Bond Index (“the AGG”) for fixed income exposure. Investors who rely on the "AGG" for the totality of their bond exposure have two significant gaps in their exposure. In this session, Nancy Davis highlights important issues with the "AGG" investors should consider. One such issue is that the AGG does not contain any inflation protected bonds: No TIPS (Treasury Inflation Protected Securities). Additionally, roughly 27% of the AGG's holdings are short options due to its large mortgage exposure, and homeowners are long the option to prepay. Therefore, investors who own the AGG are short options to homeowners.

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