The heart of our investment approach is our ability to assess, in real depth, the fundamental creditworthiness of issuers. These credit assessments, researched by our well-resourced and highly experienced analyst team, allow our fund managers to identify relative and absolute value in the credit market. Access to a team of analysts that has the capability to independently research and rate all stocks in the investment universe is vital to our success.
We employ what we believe to be one of the largest, most experienced credit research teams in Europe and have a long history of providing attractive fixed income opportunities to our institutional clients.
Benefits of scale
Managing €295bn* of assets, of which €198bn* is in fixed income, makes us a very sizeable long-term credit investor, giving us the scale and access to research companies and markets in detail. We are able to engage with senior company management teams, and we take our fiduciary responsibilities very seriously.
The scope and quality of our research teams enable our industry-leading portfolio managers to act decisively to construct portfolios to meet our clients’ expectations.
A diversified approach to risk taking
How do we mitigate against potential defaults? We attempt to do so through detailed credit analysis, diversification and strong risk management. In addition, we have a dedicated team of restructuring specialists who can step in when a security becomes distressed.
Our ability to understand an investor’s need to achieve the right balance between risk and reward when managing their portfolio is key to our business.
Most importantly, we do not take on risk unless we believe we will be adequately compensated for doing so.
*As at 31 December 2018.
The value of investments will fluctuate, which will cause prices to fall as well as rise and investors may not get back the original amount they invested.