April 12, 2024
Overview
Team
Strategies
Thought Leadership
Learn More
Overview
About Us
Loop Capital Asset Management (LCAM), formerly known as Taplin, Canida & Habacht, is an employee-owned minority business enterprise (MBE). LCAM partners with public and corporate pension funds, endowments and foundations in the US and Europe and has successfully managed institutional fixed income for over 30 years. LCAM currently manages approximately $9 Billion (as of 9/30/23) in twelve fixed income investment strategies:
Cash, Enhanced Cash, Short, Intermediate, Core, Core Plus, Multi-Sector, US Credit, Long Duration, Long Credit, High Yield, and Sustainable Investing.
Investment Philosophy and Approach
We believe fixed income markets are systematically inefficient and market timing is not feasible. We believe the most effective way to capture market inefficiencies is by leveraging a diversified set of alpha sources. Our high conviction approach seeks to deliver alpha from yield curve management, sector & quality selection, and security selection through a strict relative value discipline. Our mission is to meet and exceed our clients’ goals, objectives, and expectations through executing our time-tested philosophy and a close partnership with our clients.
Key Attributes and Differentiators
- Multi-dimensional alpha: a diversified set of alpha sources drive returns, helping to create a differentiated return profile and successful track record across multiple market environments
- High Conviction: an active approach focused on investments we believe are most likely to add value for clients
- Strict relative value discipline: we invest in securities where we observe sectors or securities offering attractive risk‐adjusted returns; nimble implementation designed to capture market dislocations and opportunities others may overlook
- Commitment to partner with clients: top tier client service with direct access to senior investment personnel and key decision makers; we tailor strategies to client needs.
For fact sheets on our strategies and other information requests:
Investment & Leadership Team
James Reynolds, Jr. CFA® | Founder, Chairman and Chief Executive Officer
A 40-year veteran of the financial services industry, Mr. Reynolds held senior-level positions at several global Wall Street firms prior to founding Loop Capital—then a municipal bond firm. As Chairman and CEO, Mr. Reynolds spearheaded the accelerated growth and diversification of the firm, which is now one of the largest privately-held investment banks in the United States. Mr. Reynolds holds a Masters in Finance from Northwestern University’s Kellogg Graduate School of Management and a Bachelor of Arts in Political Science from the University of Wisconsin, La Crosse. He received his Chartered Financial Analyst designation from the AIMR in 1991 and holds 7, 24, 52, 53, 63 and 79 licenses.
Scott M. Kimball, CFA® | Managing Director, Chief Investment Officer
Scott oversees the strategic management of LCAM and the implementation of the team’s collaborative investment process. Emphasizing a team-based approach, he and the portfolio managers implement protocol for portfolio construction and risk budgeting of client accounts. He joined LCAM in 2007 and served as a research analyst prior to joining the portfolio management team in 2011 and has since served a as member of the team’s management and investment committees. Scott previously held positions at Merrill Lynch and other boutique investment firms, beginning his career in the investment industry in 2003. He earned his bachelor’s degree in international business from Stetson University and holds an M.B.A. from the University of Miami. He is a CFA® charterholder. Additionally, Scott frequently appears on CNBC and Bloomberg Television as well as being a regularly featured source for The Wall Street Journal and Barron’s.
Adam M. Phillips, CFA ® | Managing Director
Adam is a member of the team’s management and investment committees and responsible for Client Portfolio Management, Sales and Distribution. He is the primary author of LCAM’s Fixed Income thought leadership pieces. Adam began his career in the investment industry in 2004 and joined LCAM in 2014. Previously, he was a vice president in portfolio management at Spruce Private Investors, a member of the capital markets group at BlackRock and on the investments team at Ivy Asset Management. Adam holds a B.A. in economics and anthropology from Emory University. In addition, he is a CFA® charterholder.
Frank J. Reda, CMT | Managing Director
Frank is responsible for the firm’s investment policy and strategy and manages client portfolios. As Head of Trading, he oversees trading and broker relationships. He joined the team in 2001. Frank holds an M.S. in finance from Florida International University and a B.S. in economics and finance from Barry University. He was awarded the Chartered Market Technician (CMT) designation in 2011.
Peter Heine | Managing Director
Peter began his career in the investment industry in 1994. Prior to joining LCAM in 2022, Peter was Head of Fixed Income and Senior Portfolio Manager for Smith Graham and Co. Prior to Smith Graham, Peter served as Managing Director and Head of Fixed Income with Ark Asset Management Co., Inc. He has developed and managed portfolios across the yield curve with a focus on the credit sector. Peter previously held postions at both Morgan Stanley & Co., Inc. as well as NY LIFE Securities, Inc. Peter received his BS in Economics from the University of Connecticut.
Ronald J. Salinas, CFA® | Senior Vice President
Ronald is a portfolio manager and Head of Research. Ronald is responsible for setting portfolio strategy and overseeing implementation across high yield portfolios. He is responsible for credit analysis on the energy, basic industry and utility sectors, a role he has held since joining the firm in 2004. Ronald holds an MBA from the University of Miami and a Bachelor’s in finance from the University of Notre Dame. He is a CFA® charterholder.
Timothy Alt, CFA® CMT | Senior Vice President
Tim is responsible for the firm’s investment policy and strategy as well as managing client portfolios. He joined LCAM in 2019. Tim began his investment career in 2006 and his portfolio management experience in 2015. He served as Portfolio Manager and Strategist at Aviva Investors, where he helped manage domestic and global fixed income strategies. Prior to that, he held positions at BNP Paribas and Principal Global Investors. He holds a bachelor’s degree in Economics from Lawrence University. In addition, he holds the CFA® and CMT designations.
George Onisiforou | Senior Vice President
George began his career in the fixed income securitized sectors in 1993. He manages the firm’s cash, enhanced cash and low duration portfolios. George is responsible for reviewing, analyzing and making risk-adjusted and relative value decisions in the securitized sector including mortgage-backed and commercial-backed, asset-backed and CMO securities. Prior to joining LCAM, George served as Senior Vice President, Senior Portfolio Manager and Head of Securitized Sector at Smith Graham & Co. Prior to Smith Graham, George was a financial analyst and trader with Coastal Securities. George received an MS from the University of Houston at Clear Lake and BBA in Management from the University of Texas at Austin.
Andre Villarreal, CFA® | Vice President
Andre is responsible for credit analysis with a focus on the securitized sector, including agency and non-agency products, and REIT debt. He joined LCAM in 2015. Andre began his career in the investment industry in 2010. Prior to joining the firm, Andre worked as an analyst at Rialto Capital Management and Goldman Sachs. Andre received his B.B.A. in finance from Florida International University in 2011. He is a CFA® charterholder.
Maurice Chevalier, CFA® | Vice President
Maurice is a Portfolio Manager and primarily assists the Senior Portfolio Manager in managing the firm’s exposure to cash and enhanced cash products. Maurice also trades money market and government securities. He provides quantitative analysis as part of the firm’s portfolio management risk analysis. Prior to joining LCAM in 2022, Maurice worked as a Portfolio Manager for Smith Graham & Co. He began his career in fixed income in 2013. Maurice received his BS in Chemical Engineering and his JD from Howard University. He is a CFA Charterholder.
George Liu | Senior Vice President
George is a product specialist focusing on US taxable fixed income. As a member of the investment team, he serves as the liaison between the US Fixed Income team and LCAMs client and consultant partners. Prior to his current role, George served as the Head of Operations for the Miami office focusing on middle office and client service. Prior to joining LCAM in 2015, he was a manager at Accenture. George holds a B.S. in computer information science from the University of Florida.
Jackson Smith | Senior Vice President
Jackson is a product specialist responsible for business development and managing relations with clients and consultants. Prior to joining LCAM in 2022, Jackson served as Senior Vice President and Head of Marketing and Client Services at Smith Graham, & Co. Prior to Smith Graham Jackson worked as an Analyst for the Investment Banking Group at KeyBanc Capital Markets. Jackson began his career with Amegy Bank as a Private Banking Officer in 2013. He received his BBA in Finance from the University of Miami and his MBA from New York University Stern School of Business.
Michael Kravitz | Assistant Vice President
Michael is a product specialist and a member of the investment team, where he serves as the liaison between the US Fixed Income team and LCAM’s client and consultant partners. Prior to joining LCAM in 2022, Michael was a Credit Analyst at Smith Graham & Co. where he was responsible for providing analysis and recommendations on credit sector securities. He began his career at Ark Asset Management in 1999 as a portfolio analyst where he contributed to the Fixed Income team’s analysis of credit securities. Michael received his BS in finance from Villanova University and M.B.A. from New York University Stern School of Business.
Julie Kwock | Vice President
Julie is responsible for credit analysis with a focus on the retail, health care and consumer staples sectors. She joined LCAM in 2006. Julie holds an M.B.A. and an M.S. in finance from Florida International University. She holds a B.S. from the University of Central Florida.
Joseph Magazine | Vice President
Joe joined LCAM in 2016 and is responsible for credit analysis with a focus on U.S. and global banks and insurance. He began his career in the investment industry in 2006. Prior to joining LCAM, he was Vice President with the Municipal Capital Markets group at Deutsche Bank and worked at Barclays Capital, with a focus on insurance, and at Merrill Lynch, where he was a member of the financial institutions team and helped manage down the firm’s structured credit exposure. Joe received his B.A. in finance from Pennsylvania State University in 2006.
Josu Elejabarrieta | Vice President
Josu is responsible for credit analysis with a focus on media, telecommunications, and tech – electronics / software. Prior to joining LCAM in 2019, Josu was a senior research analyst at Fairholme Capital Management and Indian Creek Asset Management. Before then, he was an associate at Watershed Asset Management and UBS Investment Bank. Josu began his career in the investment industry in 2005. Josu holds an M.S. in Financial Engineering from Columbia University and B.S.E.s in Aerospace and Mechanical Engineering from the University of Michigan.
Daniesha Dawes | Associate
Daniesha is responsible for credit analysis, focusing on industrials. Prior to joining LCAM in 2020, she was a Senior Financial Analyst at Ryder. She began her career in the investment industry in 2011 as an analyst for the Depository Trust and Clearing Corporation and then at Franklin Templeton Investments. She holds an M.B.A and B.A. in economics from the University of Florida.
Khalfani King | Associate
Khalfani is responsible for credit analysis, focusing on industrials. Prior to joining LCAM in 2021, he spent two years as an analyst covering global equities, fixed income and hedge funds at The Commonwealth of Pennsylvania State Employees’ Retirement System. Prior to that, he held an internship with the Policemen’s Annuity and Benefits Fund of Chicago. he received his B.B.A. in finance from Saint Xavier University in Chicago, IL.
Fermon Reid | Associate
Fermon is responsible for credit analysis, focusing on refining, oilfield services, technology software & hardware. He joined LCAM in 2023 after completing Loop Capital’s internship program. Fermon received his B.B.A. in finance and MBA from Stetson University in 2021 and 2023, respectively.
Adam Eccles | Vice President
Adam began his career in the investment industry in 2004. Prior to joining LCAM, Adam held multiple positions with the Vanguard Group. His primary responsibility was trading Fixed Income Rates and Derivatives. Adam graduated with a B.S. in Finance from the University of South Carolina.
John Scott, CFA® | Vice President
John began his career in the institutional fixed income industry in 1991. He is responsible for providing portfolio managers with relative value analysis as well as trade execution in the credit sector. Prior to joining LCAM in 2022, he was Vice President, Trader and Analyst at Smith Graham & Co. Before Smith Graham, John was a member of the Fixed Income Team with Ark Asset Management Co., Inc. He received a BS from the State University of New York College at Oneonta. He is a member of the New York Society of Security Analysts and a CFA® charter holder.
Ron C. Mahaffy Jr., CCEP® | Senior Vice President
Ron is the Senior Business Risk Manager for LCAM and is responsible for identifying, evaluating, mitigating, and monitoring the company’s business, operational and strategic risk. He is also responsible for communicating business risks to management while ensuring alignment with organizational objectives. He oversees the client compliance program and ensures LCAM is aligned with Loop Capital’s compliance and risk management framework. Ron also manages the middle office operations and is responsible for client reporting and business application support. Prior to joining LCAM in 2017, he served as Vice President of Product Control at Morgan Stanley and earned a BS in economics from Villanova University. He is a Certified Compliance and Ethics Professional.
Richard Deary | Senior Vice President
Richard Deary is responsible for developing and leading the firm’s business development strategy and serves as a primary point of contact for the firm’s prospective clients. Prior to joining Loop Capital, Richard has been a principal and leader for institutional money management firms for over 25 years, focused on providing investment solutions to public and corporate pension plans, foundations and endowments, and the investment consulting community. He has served as a strong client advocate and trusted advisor to leadership teams in public, private, and non-profit sectors with extensive experience in both financial and client services. He graduated from Oakland University, and with a B.A in Communications.
Stephen Berkeley | Chief Compliance Officer and Regulatory Counsel
Stephen Berkeley serves as Chief Compliance Officer and Regulatory Counsel for Loop Capital and its affiliated entities. Prior to joining Loop Capital in 2008, he spent 9 years in private legal practice representing broker-dealers and investment advisors in arbitrations, regulatory investigations and on general compliance matters. Mr. Berkeley started his career as an enforcement attorney with the Securities Division of the Arizona Corporation Commission where he investigated and prosecuted securities enforcement actions against broker-dealers and investment advisors. He is a licensed attorney in Illinois and Arizona and holds 7, 24, 53, 63, 79 and 87 licenses and currently serves on the FINRA Midwest Regional Committee. He earned his JD from Chicago-Kent College of Law and a Bachelors from Hamilton College.
For fact sheets on our strategies and other information requests…
Richard Deary | Senior Vice President
T: 305.925.5775 | E: richard.deary@loopcapital.com
Strategies
LCAM offers 12 fixed income strategies, broadly covering the traditional U.S. taxable fixed income universe. LCAM strategies are tailored to each client’s goals and objectives. In addition to separate accounts, LCAM offers access to our strategies via several commingled vehicles.
LCAM Core Plus Fixed Income Strategy
Our core plus strategy is designed to deliver broad fixed income market exposure with a higher income and total return profile than the benchmark through use of a broader opportunity set of fixed income securities and sectors. We seek to outperform benchmark returns through our active portfolio decisions over full market cycles.
The LCAM Core Plus Fixed Income Strategy generally invests in liquid segments of the U.S. bond market, including: US Governments and Agencies, corporate bonds, mortgage and asset-backed securities (ABS) as well as ‘plus sectors’, including: high yield, emerging market debt, securitized credit and other non-benchmark fixed income instruments.
LCAM Core Fixed Income Strategy
Our core strategy is designed to deliver broad fixed income market exposure with outperformance above benchmark returns derived from our active portfolio decisions over full market cycles.
The LCAM Core Fixed Income Strategy generally invests in liquid segments of the U.S. bond market, including: US Governments and Agencies, corporate bonds, mortgage and asset-backed securities (ABS).
LCAM Intermediate Fixed Income Strategy
Our intermediate core strategy is designed to deliver broad fixed income market exposure with a cap on maturities to deliver a lower interest rate sensitivity than the broad market. We seek to outperform benchmark returns through our active portfolio decisions over full market cycles.
The LCAM Intermediate Fixed Income Strategy generally invests in liquid securities within the 1–10 year segment of the U.S. bond market, including: US Governments and Agencies, corporate bonds, mortgage and asset-backed securities (ABS).
LCAM Corporate Fixed Income Strategy
Our credit strategy is designed to deliver market exposure to the U.S. credit sector with outperformance above benchmark returns derived from our active portfolio decisions over full market cycles.
The LCAM Corporate Fixed Income Strategy generally invests in liquid segments of the U.S. credit market. Subject to client guidelines, the strategy may tactically include high yield and emerging market debt to broaden the opportunity set for alpha generation.
LCAM Long Duration Fixed Income Strategy
Our long duration strategy is designed to deliver market exposure to the 10+ year segment of the broad fixed income market with outperformance above benchmark returns derived from our active portfolio decisions over full market cycles. The strategy may be included in a liability or cashflow matching program or to capture the historical premiums of longer maturity securities.
The LCAM Long Duration Fixed Income Strategy generally invests in liquid segments of the U.S. broad fixed income market, including: US Governments and Agencies, corporate bonds, mortgage and asset-backed securities (ABS).
LCAM Long Duration Credit Fixed Income Strategy
Our long credit strategy is designed to deliver market exposure to the 10+ year segment of the U.S. credit sector with outperformance above benchmark returns derived from our active portfolio decisions over full market cycles. The strategy may be included in a liability or cashflow matching program or to capture the historical premiums of longer maturity securities.
The LCAM Long Duration Credit Fixed Income Strategy generally invests in liquid segments of the U.S. credit market. Subject to client guidelines, the strategy may tactically include high yield and emerging market debt to broaden the opportunity set for alpha generation.
LCAM Multi Sector Fixed Income Strategy
Our multi sector fixed income strategy is designed to generate higher income and total returns than the broad domestic fixed income market through use of a broader opportunity set of fixed income sectors and securities. We seek to outperform benchmark returns through our active portfolio decisions over full market cycles.
The LCAM Multi Sector Fixed Income Strategy generally invests in higher yielding segments of the U.S. bond market, including: investment grade credit, high yield, emerging market debt, securitized sectors and other non-benchmark fixed income instruments, while deemphasizing lower yielding government securities. The strategy seeks to identify attractive opportunities across and within these sectors, tactically rotating among sectors presenting value and allowing us to implement our best ideas at the security level.
LCAM Cash Management Strategy
Our disciplined, customized approach to short-term investment management enables us to tailor our liquidity products to our clients’ unique projected obligations. Our goals: capital preservation, maintenance of sufficient liquidity, and maximization of current income. The duration exposure of the cash management strategy is up to 1-90 days.
The LCAM Cash Management Strategy generally invests in high quality agency notes, commercial paper, short corporates, short-term asset-backed securities, U.S. Treasury Bills and government notes.
LCAM Enhanced Cash Strategy
Our disciplined, customized approach to short-term investment management enables us to tailor our liquidity products to our clients’ unique projected obligations. Our goals: capital preservation, maintenance of sufficient liquidity, and maximization of current income. The duration exposure of the enhanced cash strategy is up to 3 months to 1 year.
The LCAM Enhanced Cash Strategy generally invests in high quality agency notes, commercial paper, short corporates, short-term asset-backed securities, U.S. Treasury Bills and government notes.
For fact sheets on our strategies and other information requests:
Thought Leadership
November 22, 2022 — Miss Out on Powerball? Good Thing Bond Yields Are Back
What can the recent frenzies around Powerball tickets and I Bonds tell us about investing in today’s environment?
Bond yields are back and the implications go far beyond just the attractiveness of fixed income itself.
For our analysis, please see Miss Out on Powerball? Good Thing Bond Yields Are Back
July 14, 2022 — The Broken Clock Market
What does the worst first half for fixed income returns on record mean for the balance of the year and future returns for bond investors? How does this market resemble a broken clock?
For our analysis, please see The Broken Clock Market.
Fixed Income Market Updates:
Learn more about LCAM News & Insights here.
For fact sheets on our strategies and other information requests:
Learn More
For fact sheets on our strategies and other information requests:
Richard Deary is responsible for developing and leading the firm’s business development strategy and serves as a primary point of contact for the firm’s prospective clients. Prior to joining Loop Capital, Richard has been a principal and leader for a number of institutional money management firms for over 25 years, focused on providing investment solutions to public and corporate pension plans, foundations and endowments, and the investment consulting community. He has served as a strong client advocate and trusted advisor to leadership teams in public, private, and non-profit sectors with extensive experience in both financial and client services. Richard graduated Cum Laude from Oakland University in Rochester Hills, Michigan, and with the highest honors from Oakland University Honors College with a B.A in Communications. He has been an active board member for several non-profit organizations over the years and currently serves as the Ministry Leader for Celebrate Recovery at Southbridge Fellowship in Raleigh. Outside of work, he enjoys spending time with his wife and best friend of 20+ years, their two children, his work with the church, and is an avid sports fan.