TCW Concentrated Core Strategy

Quarterly Commentary

December 31, 2017


The TCW Concentrated Core strategy generated a return of +5.54% gross (+5.36% net of fees and expenses) during the quarter and underperformed the Russell 1000 Growth Index return of +7.86%. For calendar year 2017, the strategy returned +33.44% gross (+32.51% net of fees and expenses) and outperformed the Russell 1000 Growth Index return of +30.21%. Volatility remained subdued for the quarter and for the year. Equity markets did not have a single trading day with a 5 percent or greater pullback in 2017, versus the historical average of three times per year since 1928. If the equity markets rally for another 18 months, this would mark the longest such period in U.S. history...

To read full commentary please click pdf below.

Media Attachments

Legal Disclosures

For Information Only

This publication is for general information purposes only. Past performance is no guarantee of future results. While the information and statistical data contained herein are based on sources believed to be reliable, we do not represent that it is accurate and should not be relied on as such or be the basis for an investment decision.

Subject to Change

Any opinions expressed are current only as of the time made and are subject to change without notice. TCW assumes no duty to update any such statements. The views expressed herein are solely those of the author and do not represent the views of TCW as a firm or of any other portfolio manager or employee of TCW. Any holdings of a particular company or security discussed herein are under periodic review by the author and are subject to change at any time, without notice. In addition, TCW manages a number of separate strategies and portfolio managers in those strategies may have differing views or analysis with respect to a particular company, security or the economy than the views expressed herein.

Forward Looking Statement

This report may include estimates, projections and other "forward-looking statements." Due to numerous factors, actual events may differ substantially from those presented. TCW assumes no duty to update any such statements.

Not an Offer
This publication is not to be used or considered as an offer to sell, or a solicitation to an offer to buy, any security. Nothing contained herein should be considered a recommendation or advice to purchase or sell any security. TCW, its officers, directors, employees or clients may have positions in securities or investments mentioned in this publication, which positions may change at any time, without notice.