GLG Strategic Bond
Launched in 2012, the GLG Strategic Bond Strategy (‘the Strategy’) is a global fixed income Strategy, investing in government and corporate bonds. The Strategy is flexibly managed and benchmark unconstrained, aiming to provide an attractive total return over the long-term, through high monthly income generation and capital growth potential.
- A highly experienced investment team that has managed the Strategy since its inception
- A long and established track record focused on investment grade government and corporate bonds
- Aims to provide an attractive total return over the long-term through high monthly income generation and capital growth potential
- The Strategy is actively managed and benchmark unconstrained, which permits conviction in undervalued positions
- Flexibility to combine the Strategic and Tactical elements which can result in a return that is uncorrelated to traditional bond and equity markets
Approach
The Strategy is composed of two diversifying elements which form the basis of the strategy's long term investment objective:
The Strategic element: The core focus of the Strategy, using a value driven approach to identify undervalued corporate bonds.
- The team uses their own proprietary valuation model, the Credit Adjusted Valuation Scoring system (‘CAVS’), which allows efficient screening and monitoring of bond valuations
- The team seeks bonds with both attractive valuations and potential catalysts to drive the bond to fair value. Realization of idiosyncratic catalyst-driven opportunities can allow the Strategy to outperform, regardless of the direction of credit markets and the interest rate environment
- Once valuations and catalysts are identified, individual bonds are then subject to deep dive bottom-up credit research analysis, emphasizing solid balance sheets and sound corporate Strategy
The Tactical element: Used to complement the Strategic element, employing a dynamic allocation to government bonds and currencies to enhance total returns and potentially manage portfolio downside risks.
- A predominantly quantitative process that has been successfully implemented since the Strategy’s inception
- Incorporates analysis of short term return drivers with portfolio risk management techniques to actively manage duration and currency exposure
| Approach | Long-only |
| Asset Class | Credit, Government Bond and Currency |
| Geographic Focus | Global |
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