Spreker: Adrian Bender
Functie: Client Portfolio Manager, Executive Director
Titel: “EM Corporates – The advantages of spread optimization and spread diversification.”
Interest rates are low and will probably remain low for some time. Many Investors therefore consider spreads as a means of extra performance. However, we observe that spreads are highly correlated nowadays across investment-grade, high-yield, and emerging-market bond segments. A risk on/risk off mentality in markets means that outcomes can be somewhat binary. We are thus excited to present an out-of-the-box approach to this less populated corner of the spread market which has demonstrated significant upside capture but even more importantly, downside limitation (in addition to high income). Thus a credit strategy which compares very favorably to total return and/or strategic income strategies.