australieen
Emerging credits
Investment grade credits

Emerging credits

Diversified exposure to the global emerging credit market

Key points:

  • The unconstrained investment process is driven by opportunities rather than benchmarks. 
  • Credit research is organized according to global sectors to avoid regional biases 
  • Top-down views, country and credit research incorporating ESG factors

Philosophy

Credit markets often show signs of dislocation and typical benchmark thinking and institutional biases mean some investment opportunities are overlooked. We believe that we can discover and capture market inefficiencies in valuation, risk and reward by combining in-depth fundamental and ESG research with contrarian portfolio construction and strict risk control.

Process

In addition to the core portfolio of hard currency emerging credits, the strategy has the flexibility to invest in value opportunities beyond the index universe. Portfolio managers select companies based on their exposure rather than their location, and sometimes sovereign exposure is chosen over credit exposure. A company’s environmental, social and governance (ESG) profile is an integral part of the credit analysis process.

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Team

Portfolio managers make investment decisions based on in-depth issuer analysis carried out by a highly experienced team of career credit analysts.

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Disclaimer

BY CLICKING ON “I AGREE”, I DECLARE I AM A WHOLESALE CLIENT AS DEFINED IN THE CORPORATIONS ACT 2001.

What is a Wholesale Client?
A person or entity is a “wholesale client” if they satisfy the requirements of section 761G of the Corporations Act.
This commonly includes a person or entity:

  • who holds an Australian Financial Services License
  • who has or controls at least $10 million (and may include funds held by an associate or under a trust that the person manages)
  • that is a body regulated by APRA other than a trustee of:
    (i) a superannuation fund;
    (ii) an approved deposit fund;
    (iii) a pooled superannuation trust; or
    (iv) a public sector superannuation scheme.
    within the meaning of the Superannuation Industry (Supervision) Act 1993
  • that is a body registered under the Financial Corporations Act 1974.
  • that is a trustee of:
    (i) a superannuation fund; or
    (ii) an approved deposit fund; or
    (iii) a pooled superannuation trust; or
    (iv) a public sector superannuation scheme
    within the meaning of the Superannuation Industry (Supervision) Act 1993 and the fund, trust or scheme has net assets of at least $10 million.
  • that is a listed entity or a related body corporate of a listed entity
  • that is an exempt public authority
  • that is a body corporate, or an unincorporated body, that:
    (i) carries on a business of investment in financial products, interests in land or other investments; and
    (ii) for those purposes, invests funds received (directly or indirectly) following an offer or invitation to the public, within the meaning of section 82 of the Corporations Act 2001, the terms of which provided for the funds subscribed to be invested for those purposes.
  • that is a foreign entity which, if established or incorporated in Australia, would be covered by one of the preceding paragraphs.
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