9AT: INCOME RESEARCH + MANAGEMENT

other names

INCOME RESEARCH + MANAGEMENT
INCOME RESEARCH & MANAGEMENT
INCOME RESEARCH & MANAGEMENT INC

Adviser Profile

As of Date	07/30/2025
ADV Location	BOSTON, MA, United States
Adviser Type - Large advisory firm - An investment adviser (or subadviser) to an investment company
Number of Employees	204 1%
of those in investment advisory functions	61 -3%
Registration	SEC, Approved, 05/01/1987

AUM^*	108,988,159,964 12%
of that, discretionary	108,312,754,257 14%
Private Fund GAV^*	9,853,152,884
Avg Account Size	114,845,269 9%
% High Net Worth	47.48% 2%
SMA’s	Yes
Private Funds	15
Contact Info	617 xxxxxxx
Websites

Client Types

- High net worth individuals
- Banking or thrift institutions
- Investment companies
- Pooled investment vehicles
- Pension and profit sharing plans
- Charitable organizations
- State or municipal government entities
- Insurance companies
- Corporations or other businesses not listed above

Advisory Activities

- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments

- A percentage of assets under your management

Fund Type	Count	GAV
Fund TypeOther Private Fund	Count15	GAV$9,853,152,884

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser GQG PARTNERS	Hedge Fund8.2b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund5.3b	Total Private Fund GAV13.5b	AUM153.0b	#Funds8
Adviser VANGUARD INVESTMENTS AUSTRALIA LIMITED	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM92.4b	#Funds-
Adviser PACIFIC LIFE FUND ADVISORS LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund60.6m	Total Private Fund GAV60.6m	AUM42.8b	#Funds1
Adviser LINCOLN FINANCIAL INVESTMENTS CORPORATION	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund348.8m	Total Private Fund GAV348.8m	AUM95.9b	#Funds3
Adviser MACKENZIE INVESTMENTS	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund207.0m	Total Private Fund GAV207.0m	AUM162.4b	#Funds3
Adviser BARROW HANLEY GLOBAL INVESTORS	Hedge Fund-	Liquidity Fund-	Private Equity Fund115.0m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund527.6m	Total Private Fund GAV642.6m	AUM59.0b	#Funds6
Adviser NEPC, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund2.3b	Total Private Fund GAV2.3b	AUM152.7b	#Funds4
Adviser MONDRIAN INVESTMENT PARTNERS LIMITED	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund5.2b	Total Private Fund GAV5.2b	AUM49.3b	#Funds30
Adviser RHUMBLINE ADVISERS	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund19.7b	Total Private Fund GAV19.7b	AUM136.5b	#Funds26
Adviser GSAM STABLE VALUE, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM55.4b	#Funds-

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker09709UV70	Stock NameBOFA FIN LLC	$ Position$10,641,157	% Position6.00%	$ Change14.00%	# Change4.00%
Stck Ticker00971TAL5	Stock NameAKAMAI TECHNOLOGIES INC	$ Position$10,093,170	% Position5.00%	$ Change8.00%	# Change3.00%
Stck Ticker03040WBE4	Stock NameAMERICAN WTR CAP CORP	$ Position$9,627,394	% Position5.00%	$ Change4.00%	# Change4.00%
Stck Ticker140501AE7	Stock NameCAPITAL SOUTHWEST CORP	$ Position$10,000,413	% Position5.00%	$ Change4.00%	# Change4.00%
Stck Ticker26441CBY0	Stock NameDUKE ENERGY CORP NEW	$ Position$9,123,740	% Position5.00%	$ Change-1.00%	# Change3.00%
Stck Ticker298736AL3	Stock NameEURONET WORLDWIDE INC	$ Position$10,216,472	% Position5.00%	$ Change-1.00%	# Change0.00%
Stck Ticker682189AU9	Stock NameON SEMICONDUCTOR CORP	$ Position$9,724,880	% Position5.00%	$ Change9.00%	# Change6.00%
Stck Ticker595017BG8	Stock NameMICROCHIP TECHNOLOGY INC.	$ Position$6,839,138	% Position4.00%	$ Change3.00%	# Change2.00%
Stck Ticker65339KCY4	Stock NameNEXTERA ENERGY CAP HLDGS	$ Position$7,346,720	% Position4.00%	$ Change9.00%	# Change4.00%
Stck Ticker37940XAU6	Stock NameGLOBAL PMTS INC	$ Position$7,023,510	% Position4.00%	$ Change3.00%	# Change5.00%

Brochure Summary

Overview

Founded in 1987 and organized as a Delaware corporation, IR+M specializes in managing U.S. fixed income portfolios for institutional and private clients, several U.S. fixed income private investment funds, registered investment companies, and collective investment trusts for qualified investors. IR+M is privately owned largely by our employees and independent, having no subsidiaries, affiliates, or divisions. All business is conducted at our sole location in Boston, Massachusetts. Jack Sommers, our Executive Chairperson, is the only person who owns 25% or more of IR+M. We focus our investment advisory business on the U.S. fixed income universe offering clients advice and services on broad and focused fixed income strategies. Please refer to Item 8 below for a more detailed description of Methods of Analysis, Investment Strategies, and Risk of Loss associated with our investment strategies. We work closely with

our clients to identify and understand their investment needs, and, based on their investment objectives coupled with our investment processes, provide discretionary or non-discretionary investment management services subject to agreed upon investment guidelines and restrictions. Such investment guidelines and restrictions may include, but are not limited to, the type or amount of securities to be bought or sold, maximum concentration in a sector or industry, minimum quality standards for rated securities, socially responsible criteria, maximum maturities, or, if desired by the client, certain environmental, social, and governance (“ESG”) factors which may include customized restrictions or minimum ESG ratings requirements. We do not participate in any wrap fee programs. As of December 31, 2023, we managed $95,397,349,543 on a discretionary basis and $1,592,228,047 on a non-discretionary basis.

INCOME RESEARCH + MANAGEMENT

Adviser Profile

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Overview