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Aggregate Fixed Income

Aggregate Fixed Income

Dynamic and flexible fundamentally managed global fixed income strategy

Key points:

  • Flexibility to exploit opportunities across the global fixed income universe 
  • Integrated ESG approach to country and issuer selection 
  • A strict focus on risk management resulting in limited drawdowns and low volatility

Philosophy

There is considerable divergence in performance between the various segments of the fixed income universe over time; a winner one year is often a laggard the next. The strategy’s overarching investment philosophy is based on the premise that these wide performance discrepancies represent opportunities that dynamic investors can exploit, because global fixed income markets and benchmarks are inefficient. In our view it is vital to invest across these markets according to a flexible, benchmark-unaware approach.

Process

The strategy’s investment process consists of four steps.
Step 1: Analysis. Top-down global macroeconomic analysis and research into market themes and bottom-up country and company research, which includes ESG analysis.
Step 2: Cross-asset fixed income strategy selection. Selection and duration positioning, country, yield curve and currency positioning, and issuer selection.
Step 3: Portfolio construction and risk management. Risk & reward analysis and portfolio construction.
Step 4: Implementation. Efficient execution of trades. In addition to the global strategy, a European aggregate fixed income variant is also available.
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Team

The strategy is managed by cross-asset portfolio managers who are responsible for the overall decisions, including the cross-asset strategy selection, duration, and yield curve, country and currency positioning. They use the insights and portfolio management expertise of the other fixed income portfolio managers, analysts and researchers who cover global investment grade credit, high yield, government bond, asset-backed securities (ABS), inflation-linked bonds and emerging market debt.

Get in touch with us

Contact us if you would like to know more about this strategy.

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Important information

The Robeco Capital Growth Funds have not been registered under the United States Investment Company Act of 1940, as amended, nor or the United States Securities Act of 1933, as amended. None of the shares may be offered or sold, directly or indirectly in the United States or to any U.S. Person (within the meaning of Regulation S promulgated under the Securities Act of 1933, as amended (the “Securities Act”)). Furthermore, Robeco Institutional Asset Management B.V. (Robeco) does not provide investment advisory services, or hold itself out as providing investment advisory services, in the United States or to any U.S. Person (within the meaning of Regulation S promulgated under the Securities Act).

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This website has been carefully prepared by Robeco. The information contained in this publication is based upon sources of information believed to be reliable. Robeco is not answerable for the accuracy or completeness of the facts, opinions, expectations and results referred to therein. Whilst every care has been taken in the preparation of this website, we do not accept any responsibility for damage of any kind resulting from incorrect or incomplete information. This website is subject to change without notice. The value of the investments may fluctuate. Past performance is no guarantee of future results. If the currency in which the past performance is displayed differs from the currency of the country in which you reside, then you should be aware that due to exchange rate fluctuations the performance shown may increase or decrease if converted into your local currency. For investment professional use only. Not for use by the general public.

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