We aim to identify and capture a diverse range of global fixed income investment opportunities which can be used to construct portfolios with ongoing quality control and measurement of each element of the investment process.
Global Fixed Income – focused on diverse sources of return
- A continuous, real-time review process allows us to find and invest in best ideas as they become available in the market
- Global, specialist analyst teams who communicate in a common investment language across sectors seeking to uncover the best relative-value ideas
- Transparency of, and accountability for, investment research and portfolio construction through our proprietary global investment platform ION
Why Global Fixed Income
Unconstrained idea-based investing generates portfolios with a focus on the quality and diversity of ideas rather than implementing narrower ‘house views’.
How we do it
Our investment philosophy is based on the belief that identifiable and dynamic drivers influence the available investment opportunities. Those drivers include economic and financial factors that change over time and whose impact on prices also change over time.
We think long-term, repeatable investment performance is achievable when quality controls are applied to each element of an investment process. This includes continuous real-time review, a global specialist analyst team who communicate in a common investment language, and full transparency and accountability for investment research and portfolio construction outcomes.
We source ideas from all fixed income teams globally.
These teams, based across Asia Pacific, United States and Europe share and monitor their investment ideas, collaborating on a worldwide scale, through our fixed income platform, the Investment Opinion Network (ION). This enables our team to identify and capture a highly diverse range of global fixed income investment opportunities.
A separate and independently conducted product design process implements the investment ideas in a broad a balance fashion, where clients allow us latitude.. This diversified approach seeks to increase the likelihood of constructing portfolios that meet our clients' objectives.
ESG risks are identified during our bottom-up credit research process and analysed through our own risk framework. This results in a proprietary ESG rank and an internal credit rating to be drawn upon for investment and risk decisions.
Led by Stephen Johnson, we consist of nine specialists based in Louisville, USA, with an average of 20 years of industry experience.
Importantly, our team is at the centre of the fixed income platform, using ION to collaborate with all teams on a worldwide scale on matters of idea generation, investment research, portfolio design and ongoing quality control.
Beyond the direct team, portfolios are designed to utilise the entirety of this platform, utilising investment ideas across specialists covering global interest rates, currency, credit, and individual issuers in both developed and emerging markets.
The team joined CFSGAM in 2013, bringing capabilities in global and US fixed income, and absolute return investing. The senior members of the team have been together since the early 1990s and have refined their approach across various market cycles and by working with a myriad of clients around the world.
The team conceived and has overseen the in-house development of ION by embedding dedicated software development engineers and working closely with the broader fixed income teams.
We believe that excellence in RI, operating to the highest standards of professional ethics and our commitment to our stewardship principles delivers better long term investment outcomes for our clients.
Our RI strategy is based upon three strategic pillars of quality, stewardship and engagement. This strategy is underpinned by a strong governance framework and is supported by our specialist RI team. Each year we publish a responsible investment and stewardship report which outlines our progress in these areas and profiles each of our investment team’s approaches to responsible investment. We also include over 100 case studies of responsible investment in practice
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