Global Fixed Income Compass
Quarterly insight from our fixed income teams to help clients navigate the markets and opportunities ahead.
INVESTMENT STRATEGIES
Global Diversified Credit
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Overview
The Global Diversified Credit strategy’s objective is to generate attractive risk-adjusted returns by investing across the full credit spectrum including high yield, secured loans, emerging market credit, asset-backed securities and investment grade credit. The strategy has a total return performance target of 3% to 5% with a forecasted volatility range of 4% to 7% over a three-to-five year rolling period.
Investment Approach
- The strategy provides exposure to a broad range of global credit instruments, including emerging and developed markets, fixed and floating rate, secured and unsecured across the ratings spectrum in public and private markets.
- Asset allocation tilts the portfolio towards areas of the credit markets offering value or attractive diversification benefits when combined with other elements of the portfolio, while specialist credit teams focus on bottom-up idea generation.
- Security selection through expert fundamental analysis by an award winning credit team of investment professionals based in the UK and the U.S. The team has broad experience and strong expertise across credit markets including non-traditional sectors such as secured loans, asset-backed securities and emerging market bonds.
Unconstrained Credit Universe
Top-Down Asset Allocation with Bottom-Up Security Selection
Strong Focus on Credit Risk
Portfolio Management
Featured Insights
Performance
RETURNS
| Inception: Aug 01, 2015 | 3M | YTD | 1YR | 3YR | 5YR | 10YR | Since Inception |
|---|---|---|---|---|---|---|---|
| Composite Gross | 2.67% | 5.56% | 6.95% | 5.39% | - | - | 4.89% |
| Composite Net | 2.66% | 5.54% | 6.90% | 5.35% | - | - | 4.86% |
| Inception: Aug 01, 2015 | 3M | YTD | 1YR | 3YR | 5YR | 10YR | Since Inception |
|---|---|---|---|---|---|---|---|
| Composite Gross | 3.05% | 7.33% | 7.85% | 4.98% | - | - | 5.12% |
| Composite Net | 3.04% | 7.30% | 7.81% | 4.94% | - | - | 5.09% |
Past performance cannot guarantee future results. Investing involves risk, including the possible loss of principal and fluctuation of value. Returns greater than one year are annualized. Returns are expressed in U.S. dollars. Composite returns are net of transaction costs and gross of non-reclaimable withholding taxes, if any, and reflect the reinvestment of dividends and other earnings.
The gross performance results presented do not reflect the deduction of investment advisory fees and returns will be reduced by such advisory fees and other contractual expenses as described in the individual contract and Form ADV Part 2A.
Net performance results do not reflect the deduction of investment advisory fees actually charged to the accounts in the composite but they do reflect the deduction of model investment advisory fees based on the maximum fee rate in effect for the respective time period, adjusted for performance-based fees where applicable. Actual advisory fees may vary among clients invested in the strategy shown and may be higher or lower than model advisory fees. Returns for each client will be reduced by such fees and expenses as negotiated in any client contract as discussed in Form ADV Part 2A.
The gross performance results presented do not reflect the deduction of investment advisory fees and returns will be reduced by such advisory fees and other contractual expenses as described in the individual contract and Form ADV Part 2A.
Net performance results do not reflect the deduction of investment advisory fees actually charged to the accounts in the composite but they do reflect the deduction of model investment advisory fees based on the maximum fee rate in effect for the respective time period, adjusted for performance-based fees where applicable. Actual advisory fees may vary among clients invested in the strategy shown and may be higher or lower than model advisory fees. Returns for each client will be reduced by such fees and expenses as negotiated in any client contract as discussed in Form ADV Part 2A.