We find value along the yield curve and strategically position our portfolios to take advantage of opportunities and manage risk.

Our research process starts with an evaluation of the global macroeconomic landscape. Across the global community we undertake a country-by-country review and focus on key economic indicators, review central bank policy, and examine the fiscal and political environment.

We primarily focus on free-cash-flow generation and an issuer’s ability to make timely coupon and principal repayments, in addition to management’s ability to take advantage of and/or operate effectively in the current political, regulatory and economic environments. This results in our confidence in the quality of issuers our clients’ capital is invested in.

Our assessment of relative valuation, issuer strength and quality help us determine where to find value within sectors and industries, and across issues and credit quality, as we seek adequate compensation for the risk taken.

Our yield and credit curve analysis process focuses on macroeconomic factors, historical yield curves, breakeven scenarios and natural supply-and-demand factors.

Our team follows the same robust process for all mandates. Analyzing global macroeconomic trends provides a better understanding of the current economic environment, market risk appetite and probability of  extreme outcomes to strategically construct a portfolio and help ensure risk control and long-term added value.