Multi-asset credit update: preparing for potential changes in the fixed income environment

11 min read 29 Oct 21

In the following multi-asset credit update, senior portfolio manager Richard Ryan discusses how he has positioned his portfolios in recent periods and explores potential future scenarios that could arise. Highlights include:

  • How the portfolios’ ‘barbell’ approach combines liquid, defensive assets with short-dated and high yield debt to provide running income
  • High yield opportunities, including fallen angels and other candidates for credit rating upgrades, as well as callable high yield bonds
  • How we would look to position the portfolios depending on the direction and speed of travel of spreads from here

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By Richard Ryan

The value of investments will fluctuate, which will cause prices to fall as well as rise and you may not get back the original amount you invested. Past performance is not a guide to future performance.

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