Investment Grade

Q1 2020, or more specifically March 2020, will go down in history as a game changer.

Q1 2020, or more specifically March 2020, will go down in history as a game changer.

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.

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.

Chris Bowie outlines the highlights and lowlights for the fund, the successes and challenges, the triumphs and the odd sleepless night.

The TwentyFour Corporate Bond Fund has recently celebrated its 5 year anniversary. Partner and Portfolio Manager Chris Bowie looks back and reflects on the successes and challenges of running the fund over the last five years as well as providing an outlook for the Fund going forward.

CEO Mark Holman provides his outlook for credit markets in 2020, highlighting investment themes and sectors that still offer fixed income investors good relative value.

Partner and Portfolio Manager Chris Bowie looks at some of the myths and opportunities within the sterling credit markets and trends we expect for the year ahead.

Chris Bowie looks at the performance of the Outcome Driven strategy over the last quarter and provides his outlook for 2020.

September new issuance has opened with a bang as we expected. Volumes are high and the issuer types are diverse, with a slant towards more frequent borrowers who tend to have their ducks permanently lined up in order to jump on favourable conditions. We expect this trend to continue throughout September as bankers push borrowers to take advantage of what could be one of the best opportunities they might see this cycle.

Fixed income investors globally face a daunting environment in 2019, with a deteriorating credit cycle, heightened political volatility and increased uncertainty around global monetary tightening.

For fixed income investors, it has been impossible to ignore the proliferation of press coverage about the growth of the triple-B rated corporate bond market, and a coming wave of downgrades for companies rated BBB to high yield, with these ‘fallen angels’ exposing investors to mark-to-market losses at best, and defaults at worst.