Fixed income investing in a changing world.
All importantly, risk allocation is the very starting point of the team’s investment process. Portfolio construction then revolves around the model portfolio, with best ideas scaled for conviction, volatility and correlation.
In today’s market, a long-only approach to fixed income is ineffective, so the team continually tweak the portfolio to reflect the underlying macro environment.
The strategy sacrifices carry earned via a heavy corporate bond allocation; this provides valuable liquidity and flexibility. The fund does not take part in private placements.
All data from Bloomberg as at 14/08/19. The five peer funds were chosen for means of comparison as they are the largest genuine absolute return funds in the Alternatives peer group.
All data from Bloomberg as at 14/08/19. * On 25/05/2017, the fund’s benchmark changed from the JP Morgan Global Government Bond Index USD hedged, to cash (USD – Fed Funds Overnight Rate).