Multi asset credit update: collateralized loan obligations (CLO)
Senior Credit Analyst, Sebastien Poulin, provides an overview of collateralized loan obligations (CLO). He explores the lifecycle of a CLO and how they fit as a part of our Multi Asset Credit Fund strategy.
RecordedFeb 21 201910 mins
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2019 proved to be a very strong year for global equities, which posted their third-best annual returns over the last 30 years. But what does 2020 have in store and where do we go from here? With over 5,000 companies to consider, global equity fund managers face a huge challenge to find the winners and avoid potential losers. How can they stand out? The answer – by thinking differently.
Peter Rutter, Head of Equities, will discuss what the market themes are and where opportunities lie in the year ahead for global equity investing. He will also explain the differentiated, proven and repeatable process that the RLAM global equity team has developed to find stocks ‘off the beaten track’ that they think have the potential to deliver long-term performance.
Craig Inches, Head of Rates and Cash, and Tony Cole, Senior Fund Manager, introduce the Royal London Sterling Liquidity Money Market Fund, a Low Volatility Net Asset Value Fund with daily dealing, and how this complements the existing Royal London Cash fund range. They explain how clients can optimise their Cash portfolios through a clear risk-adjusted ‘cash laddering’ approach, and examine how they are incorporating ethical screens.
2019 proved to be the classic match of two halves – H1 performance was led by growth stocks, while in H2 the focus shifted to value. But where should we be looking in 2020, and what opportunities do medium sized companies in the UK offer compared to their counterparts beyond these shores? Henry Lowson, Senior Fund Manager of our UK Mid-Cap Growth Fund, runs the rule over the last 12 months, picks out the key themes for the next year and explains how he and his team look to take advantage of these opportunities.
Following the results of what many consider to be the most divisive general election in living history, RLAM’s Head of Multi Asset, Trevor Greetham and Senior Economist, Melanie Baker come together to discuss the result and their thoughts for what it could mean for markets, the economy and different asset classes.
The characteristics of sterling credit markets and rating agency methodologies have seen radical changes over recent years. To demonstrate these and changes in the wider sterling credit landscape, we consider how one of our sterling portfolios, the RL Ethical Bond Fund, has adjusted over recent years.
ESG investing started as an equity specialism, and much of the data and analysis used today is still centred on equities, so are ESG factors relevant for corporate bonds and what role do Green bonds play? Martin Foden explores this and discusses sustainable fixed income investing and how two distinct processes – ESG and credit analysis – can be integrated to seek to achieve positive outcomes for investors.
Distinct and clearly-defined investment approaches have been stretched and morphed to make sustainable investing appeal to a much wider investor base. But what does Sustainable really mean, and how does Mike Fox and his team put it into effect at Royal London Asset Management (including some stock stories that might surprise you)?
The great thing about global equities is that it’s a big world out there, the main challenge with global equities is that it’s a big world out there.
With a universe of 5,000+ potential investments we have developed a differentiated, proven and repeatable process to find differentiated stocks off the beaten track to seek to drive a successful long term track record. Peter Rutter explains how we do that and why it's valuable to clients.
Recent research indicates that despite the growing popularity of responsible investing, the confusing landscape can be a barrier to holding the conversation with investors. Ashley Hamilton Claxton, Head of Responsible Investment, tracks the evolution of responsible investing, demystifies the various labels attached to investment funds, and discusses how understanding the primary investment objective of funds can help with the client conversation.
The last decade has seen huge developments in sustainability across much of the globe, and this is having a growing influence on the way investments are managed. The key change has been a growing acceptance that applying ESG factors and looking at sustainable themes can be beneficial for returns – it doesn’t require investors to make costly choices. But what do the coming years have in store? Mike Fox examines how he thinks sustainability will develop over the next coming years.
The terminology can be confusing – what is the difference between sustainable and responsible, for example? The sector’s newly-fashionable status has led to some blurring of the terminology in the scramble to launch new products. So Mike Fox describes the sustainable investing landscape and explains the benefit of doing right rather than avoiding the bad.
The past 24 months have provided a fantastic testing ground for multi-asset credit (MAC) strategies. The period has featured interest rate volatility, liquidity shocks and multiple blow ups in the high yield sector, against a backdrop of deteriorating global economic data, trade concerns, monetary policy tightening, Chinese weakness and Brexit. In this turbulent environment, Khuram Sharih, Fund Manager, and Chris Mills, Consultant Relations Manager, examine the key drivers and events that have shaped the strategy. They shed light on the strategic changes in the portfolio positioning, the importance of credit selection in the search for stable income, and how the strategy can manage increased volatility and continued low rates.
With volatility and uncertainty prevalent on the back of trade wars and Brexit, we continue to seek out opportunities at attractive prices. Will Kenney, Senior Fund Manager, Global Equities, gives the inside track on a couple of holdings in which we have ongoing confidence.
Reflecting on the impact interest rate movements and bond yields are having on the market, Will Kenney, Senior Fund Manager in our Global Equities Team, reiterates the team’s focus on wealth creation rather than trying to predict short-term changes in markets.
In this webinar, Head of Sustainable Investments, Mike Fox, will look at sustainable investment and technology. Mike will consider the arguments for and against ‘Big Tech’ in society and how to integrate the social considerations around technology into financial decision making.
Senior Client Portfolio Manager, Ewan McAlpine, presents our six monthly update webinar. The clouds of uncertainty six months ago have anything but cleared. Against an increasingly lacklustre global economic backdrop, and with additional uncertainty in the UK and Europe around Brexit and more globally around US-China trade, fixed income assets and their returns have proved surprisingly resilient in general and market volatility is surprisingly low. But the nature of uncertainty means that the risks of volatility and poor performance even in the near term have not been removed. Find out what we consider to be the most appropriate strategies to see investors through this environment of mixed messages.