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Mirabaud Sustainable Global High Yield Bonds Strategy

STRATEGY OVERVIEW

Mirabaud Sustainable Global High Yield Bonds Strategy

Investing across the global high yield universe, with a flexible, unconstrained approach.

 

We believe that high yield bonds behave differently according to the region in which they are located, and where that region is within its business cycle. Therefore, a global approach to investing in high yield bonds gives us the flexibility to move across the markets with the aim of capturing the best opportunities available.

Mirabaud – Sustainable Global High Yield Bonds seeks long-term capital appreciation across multiple business cycles. Using a top-down and bottom-up approach, the strategy actively manages credit risk and duration whilst exploiting relative value opportunities across different global geographies, sectors and credits.

The strategy has the flexibility to invest where we think the returns are available at any point in the cycle, moving dynamically between credit and duration risk.

High yield bonds typically have a low correlation to investment grade and so adding them to a broad fixed income portfolio can improve diversification, as well as enhance income. We focus on BB-B and are rarely significantly exposed to the weaker end of the market.

We believe the strategy is relevant for those investors seeking higher yields whilst mitigating downside risk.

Portfolio Characteristics

UNCONSTRAINEDThe flexibility to invest where we think the returns are available at any point in the cycle..
TOP-DOWN/BOTTOM-UPTop-down sets regional allocation parameters while bottom-up credit selection allows us to optimise returns.
SFDR ARTICLE 8ESG factors are fully integrated alongside traditional financial analysis, incorporating negative and positive exclusions as well as in-depth bottom-up analysis and engagement.
SPECIALIST TEAM6 risk managers, 3 SRI analysts, 3 dealers.
CULTURE OF DEBATETeam 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.

BEST IDEAS

Top-down informs our dynamic allocation across geographies, sectors, credit and duration risk.

Bottom-up analysis incorporates fundamental, technical and valuation (FTV) factors to identify strong, sustainable opportunities.

TOTAL RETURN

Global universe with high-conviction views required to generate total returns through the cycle.

Mitigating down-market risk with active hedging.

Strategy Resources

Fund Information

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Monthly Reporting

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Monthly Commentary 

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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. 

Watch the meet the manager video

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.

Watch the meet the manager video

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.

Watch the meet the manager video

Fixed income insights

Author
Andrew LAKE
Author
Andrew LAKE
Author
Al CATTERMOLE
Author
Andrew LAKE
Author
Fatima LUIS
Author
Andrew LAKE

Fixed Income

The magical 2%

Author
Andrew LAKE
Author
Daniel MORENO
Contact

Contact Us

Asset management

Jérôme PAGANINI

Head of Sales Switzerland & Wholesale Central Europe (FraBeNeLux – DACH)

Asset management

Alexis DINSFRIEND

Sales Executive

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Louis William WAGNER LEY

Wholesale Manager

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Hugo BARBIER

Sales Executive

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Benjamin CARTER

Head of UK Wholesale

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Elliot FOWLES

UK Wholesale Sales

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Deji IJAIYA-HARVEY

UK Wholesale Sales

Asset management

David BASOLA

Head of Southern Europe

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Ilaria MALACCO

Senior Sales Executive, Italy

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Isabelle RICHARD

Head of Sales France

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Jérôme SPOHN VILLEROY

Wholesale Director

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Elena VILLALBA

Director Iberia & Latam

Asset management

Pablo SAN JOSÉ PEÑA

Sales Iberia & Latam

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