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Dynamic Credit
Range

Global credit solutions for
uncharted waters

Our liquid-credit solutions offer attractive capital return and income for investors of varying risk appetites. Characterised by flexibility, high conviction, ESG integration and the ability to deliver strong long-term performance, they can adapt to the challenges and opportunities presented by the current environment – and future turns of the cycle.

Sustainable returns, positive change: introducing SDG Engagement High Yield Credit

Our latest credit proposition combines two core strengths of our team: global, high-conviction credit investing and in-depth engagement with companies on ESG and strategic concerns.

Our SDG Engagement High Yield Credit strategy aims to outperform the global high-yield market by investing in companies with strong fundamentals that also demonstrate the potential, through engagement, to create positive change.

The team uses the Sustainable Development Goals (SDGs) as a framework for engagement.

We believe that bondholder engagement on ESG matters supports the long-term viability and investment performance of businesses while also benefiting society and the environment.

Engagement can help ensure that companies do not lose sight of their responsibilities towards employees, customers, suppliers and society at large – during the course of the current crisis and towards 2030.

Investing for impact

To sustain positive change, impactful companies must be profitable. We therefore seek companies with attractive long-term investment fundamentals whose products, services or operations can, through engagement, help deliver the SDGs

Global credit: an opportune time to invest?

Valuations in the high-yield market are currently attractive.

Throughout this downturn and recovery, credit investors will receive consistent income as debt-issuing companies are contractually required to pay coupons. They will prioritise these commitments over capital expenditure, dividends or share buybacks.

Given the economic outlook, credit-rating agencies have downgraded many companies from investment-grade status. This, combined with the general improvement in the creditworthiness of high-yield issuers in recent years, has driven quality to historic levels.

Our response: be active, go global and value sustainability

We believe it is a time to be active. Through intensive fundamental analysis, our team aims to avoid defaulting companies while identifying not only the strongest issuers but also the most attractive debt instruments in their capital structures.

It is also important to invest globally to expand the universe of opportunities available. For example, in the past 20 years, the number of countries in the global high-yield market has increased from 22 to 85. 

The decisions that companies make about human capital and customers during the current pandemic will long be remembered not only by those directly affected, but by investors, too. Since 1983, we have been at the forefront of ESG integration in the investment industry and have proven, through research, that the best ESG performers are typically rewarded with tighter spreads. We use our proprietary ESG Dashboard, which quantifies a company’s ESG profile across a broad range of metrics to produce an overall ranking: the QESG Score, to help us quantify ESG risk.

Seeking companies with sustainable cash flows and long-term growth in enterprise value, we engage businesses on ESG and strategic matters to help mitigate risk and strengthen long-term performance, and improve their impact on society and the environment.

Sustainable returns, positive change: introducing SDG Engagement High Yield Credit

Our latest credit proposition combines two core strengths of our team: global, high-conviction credit investing and in-depth engagement with companies on ESG and strategic concerns.

Our SDG Engagement High Yield Credit strategy aims to outperform the global high-yield market by investing in companies with strong fundamentals that also demonstrate the potential, through engagement, to create positive change.

The team uses the Sustainable Development Goals (SDGs) as a framework for engagement.

We believe that bondholder engagement on ESG matters supports the long-term viability and investment performance of businesses while also benefiting society and the environment.

Engagement can help ensure that companies do not lose sight of their responsibilities towards employees, customers, suppliers and society at large – during the course of the current crisis and towards 2030.

Investing for impact

To sustain positive change, impactful companies must be profitable. We therefore seek companies with attractive long-term investment fundamentals whose products, services or operations can, through engagement, help deliver the SDGs

Global credit: an opportune time to invest?

Valuations in the high-yield market are currently attractive.

Throughout this downturn and recovery, credit investors will receive consistent income as debt-issuing companies are contractually required to pay coupons. They will prioritise these commitments over capital expenditure, dividends or share buybacks.

Given the economic outlook, credit-rating agencies have downgraded many companies from investment-grade status. This, combined with the general improvement in the creditworthiness of high-yield issuers in recent years, has driven quality to historic levels.

Our response: be active, go global and value sustainability

We believe it is a time to be active. Through intensive fundamental analysis, our team aims to avoid defaulting companies while identifying not only the strongest issuers but also the most attractive debt instruments in their capital structures.

It is also important to invest globally to expand the universe of opportunities available. For example, in the past 20 years, the number of countries in the global high-yield market has increased from 22 to 85. 

The decisions that companies make about human capital and customers during the current pandemic will long be remembered not only by those directly affected, but by investors, too. Since 1983, we have been at the forefront of ESG integration in the investment industry and have proven, through research, that the best ESG performers are typically rewarded with tighter spreads. We use our proprietary ESG Dashboard, which quantifies a company’s ESG profile across a broad range of metrics to produce an overall ranking: the QESG Score, to help us quantify ESG risk.

Seeking companies with sustainable cash flows and long-term growth in enterprise value, we engage businesses on ESG and strategic matters to help mitigate risk and strengthen long-term performance, and improve their impact on society and the environment.