“We’ve got an average tenure amongst fixed income portfolio managers of 26 years. Tenure means two things, our investments benefit from an experienced view and we genuinely invest long-term.
I covered one sector for over 20 years and when you cover an industry for this long, you really understand the companies, the industries and the make-up of what does and doesn’t work in that industry.
So much of the investment world has a shorter time horizon. We enjoy making multi-year investments.”
“We don't call ourselves research analysts. We call ourselves investment analysts, because the goal is to come up with the best investment idea we can on a risk adjusted basis.
Rather than being a good credit rater or figuring out what the best company or issuer looks like, we’re focused on coming up with the best investment idea.”
“Our global trading platform is important to give us reach into every market and be able to act at any time. Markets can be noisy and local insights can make a difference.
Trading is a pure execution role at some companies but here we’re positioned at the heart of the fixed income floor. This invites conversations and brings ‘value-added trading’ to the fore.
It’s up to us to be more granular and identify opportunities.”
“Integration between equity and fixed income is a key part of our research.
Often there are macro events or political developments that can impact an equity analyst’s stock investments and a fixed income analyst can understand an investment better by meeting with companies than solely listening to policymakers or politicians.
Some equity colleagues and I have undertaken research trips together for over 20 years so you build your knowledge together with different perspectives.”
All data as at 30 September 2022 and attributed to Capital Group, unless otherwise stated.
1. Assets under management by Capital Fixed Income Investors. Peer comparison is based on Capital Group analysis of Morningstar data for fixed income non-index defined funds globally. Excludes fund of funds and feeder funds. Sources: Capital Group, Morningstar
Risk factors you should consider before investing:
Statements attributed to an individual represent the opinions of that individual as of the date published and do not necessarily reflect the opinions of Capital Group or its affiliates.
Capital Group manages equity assets through three investment groups. These groups make investment and proxy voting decisions independently. Fixed income investment professionals provide fixed income research and investment management across the Capital organisation; however, for securities with equity characteristics, they act solely on behalf of one of the three equity investment groups.