Mirabaud – Sustainable Global Strategic Bond Strategy

A global, ‘go anywhere’ fixed income portfolio that dynamically responds to changing market conditions.

Mirabaud Sustainable Global Strategic Bond seeks out the best investment opportunities across the business cycle within the global fixed income universe, unconstrained by benchmark weightings.

It aims to achieve an attractive total return in all environments through a high level of current income and long-term capital appreciation.

The strategy follows a benchmark agnostic ‘unconstrained’ approach, aiming to capture opportunities across multiple economic cycles through a blend of fixed income sub-sectors. It can invest in:

Sovereign and Treasury bonds
Investment grade corporate bonds
High yield bonds
Emerging market debt
Convertible bonds

Portfolio limits on high yield and emerging market debt provide diversification, while careful blending provides resiliency in down markets. Credit exposures and managed duration across the business cycle are the primary drivers of performance.

Portfolio characteristics

CORE STRATEGY	‘All weather’ approach aims to capture market upside while limiting downside.
UNCONSTRAINED	Flexible ‘go anywhere’ approach that can respond quickly to changing markets in search of the best opportunities.
TOP DOWN/BOTTOM-UP	Top-down sets regional allocation parameters while bottom-up credit selection allows us to optimise the total return.
SFDR ARTICLE 8	Advanced ESG and climate analysis integration means we can filter a wide universe on a best-in-class approach.
RISK CONTROLS	2.5% corporate issuer internal limit. 40% high yield limit. 20% EM debt limit.
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

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Monthly Reporting

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Monthly Commentary

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Portfolio managers

Andrew Lake

From trading football cards as a child in Kuwait, to becoming Head of Fixed Income at Mirabaud Asset Management, Andrew discusses his career in investment, sustainability and what he loves about the job.

WATCH: Introducing Andrew

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: Introducing Fatima

Al Cattermole

“Can I buy below market risk for above market return?” That’s the basis of Portfolio Manager Al Cattermole’s investment philosophy, which has been influenced by a credit hedge fund stint alongside his passion for scuba diving.

WATCH: Introducing Al