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About Us

COMMITTED TO INVESTMENT EXCELLENCE. ALWAYS.

 

 

Semper Capital Management, L.P.

Semper Capital is an independent investment advisor specializing in structured products with a focus on
mortgage-backed securities

28+

Years Pursuing
Investment Excellence

$2B+

Assets Under
Management

Our History

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1992

Firm co-founded by Tom Mandel to manage fixed income portfolios for institutional pensions

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1999

Mortgage specialist investment team absorbed to complement broader fixed income expertise

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2008

Strategy specialization focuses on mortgages

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2010

Launch of short duration fund, SEMIX

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2013

Launch of total return mortgage mutual fund, SEMMX

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2018

Launch of Mortgage UCITS Fund

Approach

Semper Capital seeks to exploit ongoing inefficiencies and dislocations in the structured products market with the objectives of:

  1. Maximizing risk adjusted total return;
  2. Preserving capital;
  3. Maintaining ample near-term liquidity.

We invest in Legacy (pre-crisis) and Next Generation (post-crisis) Residential Mortgage-Backed Securities (RMBS), Commercial Mortgage-Backed Securities (CMBS) and other structured product investments across the capital structure and credit quality spectra. Semper’s asset selection process involves in-depth collateral analysis with a focus on structure, relative value and market technicals. The allocation of capital is determined by the relative value opportunity against the backdrop of each sector’s depth and liquidity.

Offerings

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Customized, actively managed separate accounts to accommodate specific institutional client mandates. Historically, accounts have been managed to outperform a benchmark fixed income index.

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MBS Total

An opportunistic fixed income strategy designed to provide low correlation to core fixed income while offering current yield, low interest rate sensitivity and limited downside volatility.

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ShortDuration

An ultrashort fixed income strategy offering low correlation to short and core fixed income, with current yield, low interest rate sensitivity, and seeking to limit downside volatility.

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