ABOUT THIS STRATEGY
Each asset-backed securities (ABS) is distinct. In order to determine how an individual ABS will behave in different market environments, we must build a detailed understanding of the underlying collateral and structural mechanics of the security.
The necessity to build a transparent picture of risk and return for each ABS creates a high barrier for portfolio inclusion which aligns with our conservative framework.
Our team-based approach deconstructs ABS transactions to create a straight-forward understanding of its performance drivers. By doing this well, we can simplify a complex asset class with the aim to deliver strong risk-adjusted returns.
Investment approach
Comprehensive, fundamental risk assessment
Strong bottom-up fundamental analysis aiming to identify opportunities offering secure income and downside resilience over cycles. Our analysis employs our 4Cs approach (collateral, counterparties, control and cash flow) in combination with market technical insights and bespoke ESG views specific to each securitisation. We apply the latest technology to continuously enhance our idea generation and research processes.
Proprietary ESG analysis for securitised assets
Our thematic ESG deep dives inform both top-down and bottom-up positioning. Through our use of data and technology, we can support active engagement with issuers. This enables us to provide transparent reporting for clients.
Integrated global fixed income platform
Our global fixed income platform enhances all aspects of our investment process; offering deep insights to support our assessment of collateral performance trends and counterparty risk for each security. The portfolio management team have the ability to draw upon global securitisation expertise and ideas across all major geographies and asset classes.
Established team
Broad experience in investing, originating, structuring and rating structured debt across multiple sectors and the entire rating spectrum. Portfolio managers have worked together for over 10 years while the team successfully merges qualitative and quantitative skill sets.
Fixed Income
Capabilities
Flexible.
Thoughtful.
Connected.
