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Jay Menozzi, CFA

Chief Investment Officer
Portfolio Manager
Easterly Orange Investment Advisors

Jay Menozzi headshot

Jay is the Chief Investment Officer and Portfolio Manager for Orange Investment Advisors.

Prior to founding Orange Investment Advisors in 2017, Jay held several positions over 17 years at Semper Capital LP. He joined Semper in 1999 as the Head of Mortgages, and served as the firm’s Chief Investment Officer from 2010 until his departure in 2016, as well as Lead Portfolio Manager of the Semper MBS Total Return Fund from its inception through until his departure in 2016. Prior to Semper, Jay spent 12 years at Atlantic Portfolio Analytics and Management. His experience included managing mortgage pass-throughs and mortgage derivatives, in long only and leveraged portfolios.

Prior to managing portfolios, he spent four years developing analytical and operational systems, including one of the early CMO cash flow models. He began his career as an electrical engineer at Harris Corp. where he earned a patent for a digital radar design. Jay holds a B.S. in Electrical Engineering from the Massachusetts Institute of Technology and a M.B.A. from the Florida Institute of Technology.

Jay's Latest Perspectives

Q2 2022 Structured Credit Commentary

For the quarter, Structured Credit Value posted a gross return of -2.21% versus the Barclays Aggregate Index return of -4.69%. The second quarter completes one of the worst performing first halves in the history of US bond markets. Structured Credit Value’s significantly lower duration and higher yield, relative to the Barclays Aggregate, accounted for most of the outperformance.

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Q1 2022 Structured Credit Commentary

On the quarter, Structured Credit Value posted a -1.51% gross return, outperforming the Barclays Aggregate Index by 4.04%. Q1 2022 was the worst quarter for most fixed income funds in decades as a Fed-triggered rate sell-off, along with a 100bp bear flattener, caused massive declines across bond funds.

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Jay's News & Media Mentions

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