Fixed income
| Pictet Asset Management is a specialist in fixed income portfolio management. |
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A cohesive team of professionals Our fixed income team of more than 30 managers and analysts has been carefully built over the past nine years. Our aim is always to attract professionals with complementary skills while ensuring cohesion, discipline and adherence to a structured investment process. The team’s senior members have an average of twelve years investment experience. Exploiting mispricings, allocating risk budgets and controlling risk We aim to identify and exploit mispricings in fixed income markets. We diversify risks across a number of fixed income strategies, each with moderate risk contributions. We allocate a risk budget across portfolios, using a standard measure which is scaled in accordance with the client’s risk appetite. Each strategy has a stop-loss and a profit target. Our team specialists add further value using their extensive market experience. Wide ranging skills applied to a wide range of mandates Our team comprises specialists in international bonds, including European bonds and Swiss bonds, money markets, currencies, emerging debt and credit. We manage accounts with both relative and absolute return objectives. Mandate types to match our client's needs As well as segregated mandates to suit our clients specific investment needs, we also offer a wide range of mutual funds for institutional and private clients. For more information about these funds, please visit our fund center. |
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Global / Regional Bonds
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 Pictet Asset Management's investment philosophy and process for global and regional bond portfolios is based on three distinct principles: diversification, risk management and a team-based approach.Our investment process exploits multiple sources of value-added and aims at delivering stable returns. We demonstrate flexibility in the implementation our strategy consistently across all portfolios in accordance with their specific risk guidelines and we manage market risks within a strict analytical framework. Our main Global and Regional Bond products include European Bonds, Global Bonds and US Bonds. Our specialists manage multiple sources of added value according to their defined area of expertise. We aim for stable returns within a strict, risk-managed analytical framework. Currency offers an extra source of alpha and is managed independently. |
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Swiss Bonds
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 We manage Swiss bonds with both an active and passive approach. Duration, sector, rating and issuer domicile are carefully analysed using a multidimensional risk matrix.All positions are continuously monitored by an experienced team dedicated to Swiss bond management. |
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Emerging Debt
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 Emerging economies have evolved remarkably since the Asian currency crisis of ten years ago; their progress has driven not only emerging markets but also, increasingly, the emerging debt markets. Today the case for investment in local currency denominated emerging debt is compelling. A combination of inflation targeting and floating exchange rates has transformed the domestic capital markets.We manage portfolios in both hard currency and local currency, with a long and distinguished pedigree. We launched our first emerging debt fund in 1998. More recently we have added local currency Emerging Debt to our product range. Local currency debt markets are attracting increasing support not only because of their improving creditworthiness but also by growing demand for bonds from foreign investments and more importantly, local pension funds. |
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Credit
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 Credit includes both High Yield and investment grade Corporate Bond portfolios.High yield falls into three broad groups: leveraged buyouts and "good" high yields, fallen angels, or blue chip companies whose credit ratings have deteriorated, and distressed debt. Our investment process concentrates on identifying issuers with unrecognised, or under appreciated, recovery or deleveraging potential. |
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Money Market
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 Fixed income and money markets have become increasingly complex over recent years. This complexity combined with an intensely competitive environment means that identifying and exploiting anomalies requires technical skills of an ever higher order.We use a team approach to investing in fixed income and money market portfolios and apply a disciplined and multi-layered approach that aims to exploit inefficiencies across the spectrum of fixed income risk dimensions. With our Money Market products we aim to offer investors attractive returns on cash through active management within a structured risk framework. |
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