Hi [[ session.user.profile.firstName ]]

Did the Central banks lose the war?

1. Why you should still stay invested in bonds

Because bonds are a natural hedge of other asset classes such as equities but it means that you MUST favour high-quality bonds only, with good liquidity and without high correlation to equities in order to deliver positive performance when stock markets are in negative territory.

2. What are the asset classes that should be favoured?

In EUR, we favour APP (Asset Purchase Program) bonds (Govies + PSPP + CSPP), i.e. bonds bought by the ECB (EUR 80 billion/month) and in USD, we stay overweight long US Treasuries (both 30y nominal bonds and TIPS which are inflation-linked). In USD, we also favour high quality emerging bonds (but high quality only). We avoid any kind of bonds which eventually behave like equities in bear markets (high yield, deeply subordinated bank debt).
Recorded Nov 10 2016 49 mins
Your place is confirmed,
we'll send you email reminders
Presented by
Eric Vanraes, Fixed Income Portfolio Manager at EI Sturdza Investment Funds
Presentation preview: Did the Central banks lose the war?
  • Channel
  • Channel profile
We go beyond the conventional
Eric Sturdza Investments is a multi-boutique provider of investment funds, offering Global, Chinese, Japanese (all cap and large cap) and European (large cap,
as well as small / mid cap) equities, as well as a global multi-asset fund and a global fixed income strategy to high net worth individuals, institutions and wholesale investors. The funds / strategies are marketed across Europe and opportunistically in the Middle East and Asia.

Embed in website or blog

Successfully added emails: 0
Remove all
  • Title: Did the Central banks lose the war?
  • Live at: Nov 10 2016 10:00 am
  • Presented by: Eric Vanraes, Fixed Income Portfolio Manager at EI Sturdza Investment Funds
  • From:
Your email has been sent.
or close