The investment environment has changed dramatically since the beginning of 2022 with bond yields and inflation sitting at or near multi-year highs. Meanwhile, volatility and uncertainty about what comes next have also risen sharply. While 2023 looks to be year where bonds are back in fashion, investors now face a more nuanced economic environment. Fears of a recession and/or stagflation, are coupled with weekly macro-economic drama driven by geopolitical risks, climate change, stakeholder expectations, and fast-moving structural changes. Understanding these risks and having the experience to deal with these forces may be what sets investors apart and allow skillful active managers to navigate the volatile waters.
This year’s webinar series will focus on the complexities that continue to vex investors as they look to reposition their portfolios for this new environment. This webinar series will help you make sense of the current investment climate and better prepare you to make intelligent decisions for your portfolio. We will examine the realities of inflation, recession, defaults, liquidity and geopolitical risk and how they are impacting the global economy and altering the investment landscape.
Mark Dowding, Chief Investment Officer for the BlueBay Fixed Income team at RBC Global Asset Management will kick off the series with insights he has developed over his distinguished career and after meetings with some of the largest investors in the world. Subsequent episodes will then dig deeper into each of these topics to gain a better understanding of the risks and what management tactics are required to capture opportunities resulting from this environment.
Adventures in Multi-Asset Credit - Opportunities in a higher interest environment
In recent years, Multi-Asset Credit (MAC) has been a popular choice with investors due in part to the low yields offered in traditional credit markets. In today’s environment of higher interest rates, the flexibility inherent in MAC has taken on increased significance. Please join us for episode two of the webinar series on May 18, 2023 at 11am ET with Blair Reid, Senior Portfolio Manager, BlueBay Fixed Income Team. Interact with Blair as he shares his insight on the best risk-adjusted opportunities, the use of hedging tools, and ESG within MAC.
- A look at the current conditions in the bond market through the lens of a multi-asset credit manager
- Yields are high by historical standards, but spreads are not cheap
- Multi-asset credit offers flexibility in asset allocation, security selection and hedging
- We are finding the best risk adjusted opportunities in CoCos and EM local currency debt, while leveraged loans are less attractive
- ESG is a complicated topic and challenges remain as views on the topic have evolved
- Read Blair's article Why now is a good time for MAC
- Subscribe and read the Multi-Asset Decision Group's monthly update
Blair ReidPartner, Senior Portfolio Manager, Multi-Asset and Income, BlueBay Asset Management LLP View profile
A compass for today’s credit markets
Please join us for episode one of the webinar series on March 22, 2023 at 11am ET to discuss our insight on these complicated times. Passionate, insightful, contrarian at times and always a true thought-leader in his field, Chief Investment Officer Mark Dowding shares his views on the current state of global markets. Mark will draw from the insights he has developed over his distinguished career as a research analyst and portfolio manager as well as from the many in-depth and detailed conversations had with some of the largest investors in the world. Interact with Mark as he provides insight on his expectations for 2023 and beyond.
- Economies have proven resilient in the face of stubborn inflation, rising rates and market volatility
- Banks are much more stringently regulated and in stronger financial position than in 2008
- Inflation moving forward will be higher than our recent experience, however
- Investors are no longer required to look to private markets for yield
- Subscribe and read Mark's weekly Global Macro Commentary
Understanding geopolitical risks: Recognizing the triggers
The risk/reward paradigm of US High Yield
Addressing today’s pressing issues
To read more insights from the BlueBay Fixed Income Team, select a topic: