Our disciplined and robust process, attention to risk management, independent research and integrated team approach are all vital to our performance
We search the capital structures of attractive issuers to determine which bonds and derivatives offer superior relative value.
To identify strong relative-value opportunities, security selection can be equally as important as issuer selection.
We assess the impacts of environmental, social and governance factors on instruments to manage risk – and to identify opportunities.
Principal members of the team have together generated impressive track records since 2004.
We believe that global, relative-value investing throughout the capital structures of issuers can deliver strong returns through the cycle.
Through top-down analysis, we determine our risk appetite and the return prospects of different regions and sectors. These findings direct our disciplined, bottom-up research, in which we seek exposure to issuers with attractive credit risks and aim to determine which securities in their capital structures provide superior relative value.
Our global approach, in which we invest throughout the US, Europe and the emerging markets, provides us with access to an expansive set of opportunities and sources of liquidity.
Nachu Chockalingam
CFA, Senior Credit Portfolio Manager
Nachu Chockalingam
CFA, Senior Credit Portfolio Manager
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Nachu joined the international business of Federated Hermes in March 2018 as a portfolio manager responsible for emerging market debt. She joined from Ontario Teachers’ Pension Plan, where she was a portfolio manager responsible for the plan’s active investments in emerging markets and European credit. Nachu started her career at JPMorgan in London as a sell-side analyst covering, firstly, European high yield and investment grade and then CEEMEA credit and was at the bank in London for 13 years. Nachu graduated from the London School of Economics with a degree in Economics and is a CFA charterholder.
Vincent Benguigui
Senior Credit Portfolio Manager
Vincent Benguigui
Senior Credit Portfolio Manager
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Vincent joined the international business of Federated Hermes in 2013 and is a senior credit portfolio manager responsible for short duration strategies and global risk management for the credit portfolios. He also oversees the implementation of non-linear trading strategies, with extensive use of derivatives products such as credit options and indices. He joined from Scor Global Investments in Paris, where he was credit analyst across European high yield. Vincent holds a Master’s degree in Banking and Finance with Honours from Pantheon-Assas University in Paris, as well as a Bachelor’s in Management from Dauphine University in Paris.
