Pacific Income Advisers is an established and independent, employee-owned investment advisory firm, for institutional and private clients worldwide. Since PIA’s inception in 1986, the firm has managed traditional investment grade fixed income strategies utilizing a fundamental investment approach that has produced attractive “risk-adjusted” returns. As a core bond manager, PIA’s investment discipline is built on yield curve analysis. PIA’s “alpha thesis” is driven by the firm’s significant intellectual capital committed to risk measurement. Additionally, PIA benefits from strong analytical competencies in mortgage-backed securities as certain PIA investment professionals are also the senior management team of Anworth (NYSE: ANH), a publicly traded mortgage REIT.