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Nomura Corporate Research and Asset Management Inc. ("NCRAM") is a boutique investment management firm that specializes in the below investment grade credit market, focusing on US & Global high yield instruments and emerging market debt. 

We believe that a total return approach driven by credit research is the best way to generate alpha in the high yield market.  We describe our investment philosophy as the "Strong Horse" philosophy.  Strong Horse companies can carry their debt loads through the economic cycles.  They generate strong, sustainable cash flow that enables them to de-lever their balance sheets and improve their ratings.

NCRAM was founded in March 1991 as a subsidiary of Nomura Holding America Inc.  In June 1991, NCRAM was registered as an investment adviser with the U.S. Securities and Exchange Commission ("SEC") and began managing total return high yield portfolios later that year.

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