Fixed Income Investment Philosophy
We believe in active management of fixed income interest rate and credit risk. Our
goal is to meet our clients' investment expectations and excel at client service.
Our philosophy is summarised below:
- Our active fund management style combines both top-down analysis of interest rates and economies and bottom-up analysis of credit markets.
- Business cycles drive fixed income market returns as they drive interest rate, yield curve and corporate bond default profiles.
- Analysis and understanding of the business cycle in the UK and other economies is the starting point for constructing bond portfolios.
- We add value by changing the mix and shape of portfolios over business cycles.
- We believe that a well-resourced team, with a diversity of backgrounds and stability at its core, sharing collective responsibility for strategic decisions adds value.
- We combine fund manager and analyst roles to ensure research is carried out from a fund management perspective.
- Globally-based research is essential for global economies and companies but investment decisions are made in the UK for UK clients.
- We are high conviction managers, taking risk only where we believe it will add meaningful returns.