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Actions speak louder than words

Why our distinctive approach to fixed income has made us one of the world’s most successful managers.

 

With US$498 billion in fixed income assets under management, Capital Group is the fourth largest active fund manager for fixed income1. A distinctive approach to fixed income is the driving force behind this success. 

Our signature approach is bottom-up investing, based on fundamental, on-the-ground research.

 

Find out what sets us apart.

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Experience

“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.”

David Daigle
Portfolio manager
New York, 26 years’ investment experience

Analysts managing money

“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.”

Courtney Wolf
Investment analyst
Los Angeles, 15 years’ investment experience

Global reach

“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.”

Neil Campbell
Trader
London, 27 years’ industry experience

Equity collaboration

“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.”

Kirstie Spence
Portfolio manager
London, 25 years’ investment experience

Capital Group’s fixed income strategies in focus

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All data as at 31 December 2021 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:

  • This material is not intended to provide investment advice or be considered a personal recommendation.
  • The value of investments and income from them can go down as well as up and you may lose some or all of your initial investment.
  • Past results are not a guarantee of future results.
  • If the currency in which you invest strengthens against the currency in which the underlying investments of the fund are made, the value of your investment will decrease. Currency hedging seeks to limit this, but there is no guarantee that hedging will be totally successful.
  • The Prospectus – together with any locally-required offering documentation – set out risks, which, depending on the fund, may include risks associated with investing in fixed income, derivatives, emerging markets and/or high-yield securities; emerging markets are volatile and may suffer from liquidity problems.

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.