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Mirabaud Global Short Duration Strategy
STRATEGY OVERVIEW
Mirabaud Global Short Duration Strategy
A pure-play approach combining flexibility with controlled risk.
Mirabaud Global Short Duration aims to provide a return of capital growth and income by seeking out the best investment opportunities across the global short-term fixed income universe.
Identifying what drives the returns of different fixed income sub-asset classes at various points in the business cycle is the key to sustained returns. We move dynamically between credit and duration risk, assessing where each region is within its cycle to steer our top-down allocation.
The strategy invests primarily in investment grade short-term debt securities. We focus on hard maturity (not callable) bonds to limit default, extension risk and volatility.
How we minimise default risk
- APPROACH — We focus on hard-maturity bonds, rather than callable bonds, to limit default potential, extension risk and higher volatility.
- DISCIPLINE — We do not implement a barbell strategy as a result of our approach, which means no hidden duration risk.
- RESEARCH — Our approach is augemented by global credit analysts that deep-dive on company fundamentals.
Portfolio Characteristics
| GLOBAL | Ability to exploit a broader range of value opportunities. |
| QUALITY BIAS | Active rotation between global investment grade and high yield with risk constraints. |
| BBB- MIN. AVERAGE CREDIT QUALITY | Structured to limit risk and access opportunity. |
| HARD MATURITY LIMIT | Limits duration and extension risk by seeking bonds with hard maturity profiles. |
| SFDR ARTICLE 8 | Advanced ESG and climate analysis integration means we can filter a wide universe on a best-in-class approach. |
| SPECIALIST TEAM | 3 PMs, 6 risk managers, 3 SRI analysts, 3 dealers. |
| CULTURE OF DEBATE | Team sits together, facilitating idea sharing and the timely discussion of market news. |
Strategy Highlights
EXPERTISE
Credit expertise and a forward-looking view to identify strong opportunities and avoid defaults.
SRI analysis and ongoing engagement steer us towards quality issuers.
DYNAMIC APPROACH
Top-down informs our dynamic allocation across the different geographies, sectors and components of the global fixed income universe.
We respond quickly to change — timing is critical.
TOTAL RETURN
Broad universe with high conviction views required to generate total returns through the cycles.
Mitigating down-market risk through active hedging.
Strategy Resources
Fund Information
Monthly Reporting
Monthly Commentary
Portfolio Managers
Fixed Income
Meet the manager - Andrew Lake
From trading football cards as a child in Kuwait, to head of Fixed Income at Mirabaud Asset Management, Andrew Lake discusses his career in investment, sustainability and what he loves about the job.
Fixed Income
Meet the manager - Fatima Luis
Fatima Luis, Senior Portfolio Manager, kicked off her investment career at the birth of the euro. She takes us through how the launch of the currency provided a catalyst for credit opportunities and began her journey to becoming a fixed income expert.
Fixed Income
Meet the manager - Al Cattermole
“Can I buy below market risk for above market return?” That’s the basis of fixed income specialist Al Cattermole’s investment philosophy, which has been influenced by a credit hedge fund stint alongside his passion for scuba diving.
Fixed income insights
Contact
Contact Us
Asset management
Benjamin CARTER
Head of UK Wholesale