All Fixed Income articles – Page 73
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White papersInvesting in green, social and sustainability bonds
Green, social and sustainability bonds provide financial support for projects and activities that have a positive impact on the environment and/or society. Issued by companies as well as governments, these ‘purposeful’ debts are enjoying growing success.
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White papersJust What Will Break First?
Tighter policy will eventually tame prices, but it’s still hard to see a U.S. recession anytime soon.
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White papersThe Rising Costs of a Drawn-Out War
Financial markets may not ebb and flow with major developments on the battlefield anymore, but we believe they do still need to come to terms with the war’s lasting inflationary impact.
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White papersEMD as a Hedge Against Inflation
Inflation concerns have caused investors to search for income with lower duration, and we believe Asia high yield delivers on this front.
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White papersPrivate debt attractive amid public asset volatility, increased inflation and rising interest rates
Public asset volatility, increased inflation concerns and rising interest rates are driving more interest in private debt than ever before, finds a recent survey published by The Lead Left, founded by Randy Schwimmer, co-head of senior lending at Churchill Asset Management.
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PodcastPrivate equity has put sustainability firmly in its sights
Many believe that private equity (PE) is particularly well placed to embrace ESG and sustainability given the scale and scope of the industry’s investments and the benefits of a direct ownership model. Together with various initiatives aimed at establishing common standards for ESG integration, PE is sharpening its focus on climate-change resilience across portfolio companies in particular. While this inherently bodes well for other stakeholders like lenders, there is still a role for engagement with borrowers to ensure they demonstrate progress.
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White papersThe inflation psychology is kicking in
After a decade of central banks struggling to bring inflation up to target, the start of 2022 has been characterised by a shift in the inflationary environment worldwide. US inflation is at its highest level in over 40 years, with other DM trailing close behind.
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PodcastThe Investment Podcast: Opening routes of exposure to consumer assets
Traditionally an area dominated by banks, consumer lending is a well-established asset class, but what’s new is that asset owners can now get access to these assets. In this episode, Jerome Henrion guides us through the diversification benefits, inflationary advantages in the current environment, making sense of a heavily data-intensive asset class with more than a billion data points and the key differences between Europe and the US.
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White papersRethinking the Credit Liquidity Continuum
As private credit markets have expanded, matured and democratized, eligible investors can now, in a cost-effective and operationally efficient manner, combine liquid and less-liquid credit assets in one portfolio. This allows investors to increase yield profile and potentially reduce volatility and correlation.
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White papersCLOs Well-Positioned Amid Rising Rates, Heightened Uncertainty
In the context of a thin new issue pipeline, secondary market CLOs look more interesting, on balance, relative to new issues.
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White papersSDG Engagement High Yield Credit: 2021 Annual Report
Our 2021 Annual Report outlines how the SDG Engagement High Yield Credit strategy delivered on its colinear objectives: strong financial performance for investors, and future, positive social and environmental impact contributing to achieving the United Nations’ Sustainable Development Goals.
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White papersHigh Yield: A Strong Case for Floating Rate
While the negative shocks of late have impacted high yield markets, the asset class remains well-positioned overall—particularly loans, which can offer a degree of protection in a rising-rate environment.
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White papersEM Debt: Finding Fundamental Value in a Shifting Landscape
The current environment is challenging, but much like in the past, opportunities are beginning to arise across the EM debt landscape.
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White papersHow institutional investors can make a social impact in portfolios
The momentum around net zero investing has helped focus the minds of institutional investors on ways to tackle climate change and how to respond to the changing policy landscape. This has led to fundamental change in how pension funds and insurers view their portfolios over the longer term – leading to the steady integration of environmental risks and opportunities.
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White papersAsset Allocation Committee Outlook - 2Q 2022
Against a background of structurally higher inflation and declining growth, exacerbated by Russia’s invasion of Ukraine, the Asset Allocation Committee’s (“AAC”) views have become more risk-averse.
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White papersWhy now may be the time to buy EMD
We maintain that EMD assets currently exhibit an entry opportunity as both an undervalued and under-owned asset class, offering the dual advantage of commodity exposure, as well as a more complete policy adjustment than developed markets, with regards to upcoming inflation risks. The potential benefits of EMD include Alpha opportunities from a diversified landscape, diversification potential, and the potential for attractive risk-adjusted returns.
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White papersInvestment Grade Credit: Higher Rates Aren’t All Bad
The Russia-Ukraine conflict and rising interest rates have affected all bond markets, but opportunities remain among the investment grade universe.
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White papersHas Fear of the Fed Peaked?
As investors continue to digest the likely path of this tightening cycle, we think the dramatic moves of recent weeks are set to ease, laying a good foundation for credit investors.
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White papersHoping for the Best, Preparing for the Worst
We’ve officially embarked on a very peculiar tightening cycle—one in which inflation is at levels more associated with the peak of the hiking cycle, and not the start.
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White papersQ&A: Investing amid geopolitical uncertainty
Russia’s invasion of Ukraine has intensified focus on geopolitical risks. However, investing amid geopolitical uncertainty is not new. Seasoned portfolio managers Kirstie Spence and Victor Kohn discuss how they approach geopolitical risk in emerging markets.
