Global Fixed Income, Cash & Treasury

HOW WE INVEST

Global Fixed Income, Cash & Treasury

The Global Fixed Income portfolio seeks to achieve an above benchmark return by investing globally in local currency, investment grade securities. The portfolio is traded actively.

The Fixed Income team uses a top-down macro/fundamental research focus to identify investment ideas in local debt markets. Analysis is performed on the economic outlook, valuations and positioning. A bottom-up analysis is used for individual security decisions. This includes an examination of credit quality, sector allocation, maturity profile, liquidity and relative value. The portfolio is constructed with a bias towards low risk securities and with consideration given to diversification and relative value. The portfolio is reviewed actively to adjust to changes in the economic environment and to take advantage of emerging opportunities. Strict compliance with investment guidelines and allocated risk budget is maintained at all times.

In addition to the Global Fixed Income portfolio, the team manages the Operational Cash and Treasury Cash portfolios.