Mortgage backed securities & Asset backed securities - Strategos (Kleros and Libertas)

Kleros and Libertas are managed by Strategos Capital Management, LLC, an affiliate of Cohen & Company and the cornerstone of our asset-backed security (ABS) and mortgage-backed security (MBS) business. Both program families offer investors access to pools of structured finance securities, primarily composed of asset-backed securities, residential mortgage-backed securities and commercial mortgage-backed securities.  The programs may also pool CDO securities and various synthetic securities referencing the aforementioned securities. 

The fixed income markets are efficient with respect to interest rate risk, but regularly misprice securities that are exposed to credit, structural, and liquidity risks. To exploit these inefficiencies and provide our clients with consistent excess returns, Strategos Capital Management philosopy is to:

• Focus on optimal security selection
• Emphasize the credit sectors
• Minimize interest rate risk
• Construct portfolios with attractive risk/reward characteristics