We actively invest with a bottom-up understanding of the high-grade fixed income universe.
A variety of market forces can cause prices to become disconnected from fundamentals, which creates opportunities in our markets. Our goal is to exploit these tactically to benefit our clients through our disciplined, time-tested investment process.
Central to our strategies is our approach to environmental, social, and governance (ESG) issues within the countries and sectors in which we invest. Our integration of these factors begins at the portfolio level and is aligned with our risk evaluation processes and the sources of return we seek, with an understanding of the risks that are embedded in particular exposures to issuers or macro themes.
We offer stand-alone and packaged solutions across the investment grade spectrum.
We integrate ESG factors into the analysis and management of every portfolio, at both the fundamental credit research level as well as the top-down, portfolio aggregate level.
For illustrative purposes only. We are not soliciting or recommending any action based on this material.
Through our proprietary framework of Key Risk Indicators (KRIs), we focus on the most financially material ESG risks relative to peer groups and changing dynamics within each sector.
This allows for a more comprehensive, quantifiable investment analysis, including:
An enhanced ability to position portfolios with the greatest risk/reward upside potential
An assessment of the opportunity cost of not participating in longer-term sector trends by focusing on forward-looking data
An analysis of both the direct and indirect ESG exposures to capture hidden, or less direct, risks with a financially material impact
The identification of potentially attractive issuers that are embracing better ESG disclosure
The discovery of cross-sector commonalities to enhance our assessment of broader value chains
Alessia Falsarone, Head of Sustainable Investing for Developed Markets Fixed Income, discusses how the team continues to enhance its sustainability standards.
Core portfolio exposure across the developed markets
Credit exposure to high yield bonds, bank loans, and collateralized loan obligations (CLOs)