Monument and European ABS update
It has been a challenging couple of weeks for obvious reasons.
Insights Topic
Fixed Income
Letter To Investors – 18th March 2020
As we approach the 10th anniversary of running our Multi-Sector Bond strategies, we have once again hit a period of remarkable market turbulence that has broken records in terms of how quickly prices have deteriorated across markets including fixed income. Consequently we thought it would be useful to share some more detailed thoughts with you on what will be my fifth occasion of writing such a letter. We hope that you find it useful.
Outcome Driven Fund Update – 18th March 2020
These are clearly unprecedented times. We are seeing large gaps down in asset values, large liquidity preference and sometimes positive correlations between risk assets and risk-off hedges.
How Will RMBS Cope With COVID-19 Disruption?
RMBS bondholders should not fear lenders accommodating borrowers’ short term needs for an extended period of time.
More Shock and Awe But One Thing is Missing
The authorities are now rapidly promising huge aid packages, but how do these aid packages find their way to the people that need aid? This is what is missing
Recession – but for how long?
In the last few days the World Health Organisation has declared COVID-19 a global pandemic, the Italian government has imposed a nationwide lockdown on 60 million people, and President Trump has banned all travel to the US from Schengen Area European countries for 30 days.
TwentyFour ABS Investor Update Webinar
Partners and Portfolio Managers Ben Hayward and Doug Charleston provide an update on the TwentyFour Income Fund and TwentyFour Monument Bond Fund.
TwentyFour Multi-Sector Bond Investor Update Webinar
Partner and Portfolio Manager Eoin Walsh provides an update on recent market developments and looking at the portfolio positioning of the Strategic Income Fund.
TwentyFour Select Monthly Income Fund Webinar
Partner and Portfolio Manager Gary Kirk provides an update on recent market developments and the positioning of the TwentyFour Select Monthly Income Fund
TwentyFour Subordinated Financials Webinar
Partner and Portfolio Manager Gary Kirk provides an education session on AT1s and RT1s
TwentyFour Investment Grade Credit Update Webinar
Given the recent volatility in global markets, Partner and Portfolio Manager Chris Bowie hosted a webinar where he provided an update on investment grade credit. Chris discussed his current views on the asset class, before looking at positioning of his two funds; Absolute Return Credit Fund and Corporate Bond Fund.
Bank Of England Announces “Big, Big Package”
Our take on all of this is that the central bank has acted in a very targeted and timely way, adding large volumes of liquidity at even lower rates, along with significant capital to the banking system.