Eric Vanraes provides insight on his assessment of the major influencers of fixed income markets today – macro data, central banks, equity markets, flows and rating agencies and how he reflects these in his three step investment process:
- Top-down analysis seeking to identify the optimal allocation between two types of risk, pure duration and credit risk;
- The allocation between these two risk categories, considering nominal and real yields, with credit risk introduced through different markets;
- Bottom-up analysis: bond picking based on in-depth credit analysis to establish the portfolio.
Eric believes that a fixed income portfolio should consist of high quality and liquidity issues, with a low correlation to equities.
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Recording from Citywire Asia’s Virtual Investment Forum held on 4th June 2020
For Professional Investors Only.
The views and statements contained herein are those of Banque Eric Sturdza SA in their capacity as Investment Adviser to the Strategic Bond Opportunities Fund as of 04/06/2020 and are based on internal research and modelling. This does not constitute independent research and under no circumstances should the information contained therein be used as a recommendation to buy or sell any security or financial instrument or service or to pursue any investment product or strategy or otherwise engage in any investment activity or as an expression of an opinion as to the present or future value of any security or financial instrument. Nothing contained in the views and statements by Banque Eric Sturdza SA are intended to constitute legal, tax, securities or investment advice. The views and statements contain “forward-looking statements”. All projections, forecasts or related statements or expressions of opinion are forward-looking statements. Although Banque Eric Sturdza SA believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct, and such forward-looking statements should not be regarded as a guarantee, prediction or definitive statement of fact or probability.
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