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Fixed Income

                       

Key areas of expertise

 

  • Sovereign debt
  • Inflation
  • Corporate credit (Investment grade & high yield)
  • Structured credit
  • Convertibles
  • Long/short credit
  • Money market
  • Insurance-related fixed income
  • Global emerging bonds
  • Currencies
  • Private Debt Real Asset

 

Philosophy


The philosophy of the Fixed income investment division is based on a strong conviction: there are inefficiencies in fixed income markets that can be arbitraged through an active management.

As fixed income markets are a very complex asset class, it is essential to be able to rely on experts who are specialised by market segment, combined in “sector teams”. However, an organisation where specialists work with a ‘silo’ mind-set is no longer adequate for generating value. The recent crises have demonstrated the growing complexity and interconnection of markets, including between the fixed income segments.

To meet this new challenge, the Fixed-income investment division has the specificity of combining the specialisation of teams within bond segments and consensus-based decision-making methods both to generate new ideas and to ensure continuous improvement of management processes.

 

Investment process and organisation


The Fixed-income investment division implements an active fundamental management, where risk is taking into account at every stage of the investment process. The directional views are developed by committees of specialists under the leadership of the Investment directors. For stock selection, the fund managers rely on the recommendations of the sector teams, which bring together fund managers, analysts and strategists to discuss a theme or a management strategy.

In all, the Fixed-income investment division is supported by close to 100 specialists, including asset managers, credit analysts, strategists, financial engineers and economists.
 

 1st research paper - "Managing Fixed income portfolios in a rising rate environment"- written by the Quantitative research and analysis team of the fixed income investment division.
 

(1) Source: Natixis Asset Management - 30/09/2016.