mallowstreet University Investment Focus: Fixed Income Opportunities

Pardon the Interruption

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This morning a select group of delegates and four leading asset managers gathered together at the South Place Hotel in London to explore the world of Fixed Income investing.

 

First we heard from Alex Wise and James Rogers at UBS Asset Management who took us through their macro view on the ‘new normal’ in fixed income. We discussed inflation, fed tapering and interest rate changes. We also examined the key considerations for investors seeking to position their global / UK fixed income portfolios in a fascinating session.
 
Next we heard from Maddi Forrester and Owen Murfin at MFS Investment Management, who hosted a great session on the role of buy and maintain strategies in a changing fixed income environment. We looked at the role of an active strategy, how to find a ‘perfect’ security and how to measure the success of a manager. We also heard how ESG considerations affect a company’s ability to pay coupons and principal over the long term.
 
The second half of the morning started with Matthew Morgan and Rachel Perini from Jupiter Asset Management and an engaging session on emerging market debt. They examined how EMD may hold value in a low yield environment and the resilience of the EM universe to US rate increases and dollar strength, unpicking some of the myths surrounding this particular asset class.
 
We finished the morning with Ryan Myerberg and Peter Curteis from Brown Advisory exploring sustainability in global fixed income portfolios. This was another excellent session that covered the fundamental and ESG research process for both corporates and sovereigns. We also heard about how the research helps to manage risks and opportunities and portfolio positioning across the cycle. 
 
As always there was some probing engagement from a very experienced audience who thoroughly questioned the presenters on their respective investment propositions.
 
If you were with us for this event, what were your key thoughts and musings from these four presentations? It would be great to continue the conversation on here!