23 C
New York
Monday, June 27, 2022

Is it time for Fixed Income?

- Advertisement -
- Advertisement -

Oscar Esteban – Sales Director of Fidelity International, it is of the opinion that in an environment in 2022 in which the central banks are going to continue ruling the market, having a short-term flexible diversified fund to be able to invest in the United States, Europe, emerging or high yield when the manager considers it appropriate, seems to them the best way to manage a fixed income that at the beginning of the year has been complicated but precisely for this reason it will offer and offers some interesting opportunities from now on.

On the other hand, David Azcona – Investment Director of Beka Finance Private Banking, believes that the best news we can have today is the fact that it can function. Until now they have been seeing how hardly any fixed income asset was able to obtain returns. This 2022 they are having behaviors of fixed income assets that give them a window in the medium – long term to be able to build our portfolios efficiently and solidly. They may be talking about taking advantage of more current moments in which the most volatile fixed income previously had no value and now they do; times when emerging fixed income did not offer value before and now it does; and the financial debt was very tight and can currently also offer value. They have three types of assets: financial debt, emerging debt and debt with a little more volatility, which can add value to our portfolios.

Carlos Mendoza, Fund Manager specializing in Fixed Income at Welzia Management, consider that we are at a time when, on the management side, it is true that a large part of the movement that has taken place for the rise in interest rates has been spread little to the credit duration side. They believe that the assets that are doing the best this year and that are probably going to do the best are those with good credit quality, especially in the euro, which have already reflected in price that great stress in the market that has been experienced this month, and they believe that the return-risk ratio is indeed offering opportunities. On the High Yield side they are still a bit skeptical about the tightening that has occurred in Investment Grade. And yes, he believes that beyond the flexibility that playing bond coverage, playing treasury coverage or even dollar coverage can give you, right now they have been building a more defensive-quality portfolio, all Investment Grade , with more than attractive portfolio profitability.

From another point of view, Ricardo Comín, Sales Director for Iberia at Vontobel AM, he prefers to start with those he likes, which in this case are governments in general, and then depending on the degree of qualification, some corporate funds. They believe that those that can work best, because they are positive with emerging markets, they are positive with corporates… more or less quickly, depending on market circumstances that tend to change a lot, and more so this year, when they are especially changing.

Sandra Fernández, Investment Solutions Analyst at ATL Capital, He concludes by saying that his strategy is always a long-term strategy, it is above all a strategy of diversifying portfolios and within all of this strategy he believes, on the one hand, that credit can do better this year, but also the government bond as a refuge asset as well. they would consider it; and also funds focused on flexible fixed income, which can seize the moment and adapt to market circumstances. On the other hand, the most important thing from the house is that the durations are reduced in order to have less sensitivity to this future and possible rise in rates.

fixed rent

Is it time for Fixed Income? Conclusions and ideas of inversion of gestures and selectors:

fidelity_oscar

fidelity_oscar

Oscar Esteban, Sales Director of Fidelity International:

The flexible and active gesture in the current market moment in the fixed income part. It is essential to be able to build a portfolio after this perfect storm that we have had at the beginning of the year”.

vontobel_ricardo

vontobel_ricardo

Ricardo Comín, Sales Director for Iberia at Vontobel AM:

“It is having many conjunctural changes to build portfolios in a structural way. Everything has happened much faster than we all expected, with which the headline would be in the medium term, fixed income can be a very interesting asset in which to invest” .

beka_david

beka_david

David Azcona, Investment Director of Beka Finance Private Banking:

Fixed income currently offers a spectrum of profitability to build portfolios in a solid manner in the long term that was not previously proposed. I believe that it is the best moment for many months that we can face to build fixed income portfolios and have fixed income as one more asset within diversified and medium and long-term portfolios”.

welzia_carlos

welzia_carlos

Carlos Mendoza, Fund Manager specializing in Fixed Income at Welzia Gestión:

These are times of fixed income, but not only of uncertainty, but of the market in general. Many times we talk about how interest rates influence the fixed income part, and we forget about the equity part, which even lasts longer than the fixed income part. The environment is what it is, right now it still has opportunities if we are quite selective. And although you have to be quite careful, years ago everything was worth it, but now I think that the active management part is going to show if it really is effective and efficient with respect to the passive management part. And I think that despite the environment we are in, it has been an opportunity to create more medium-long term portfolios, something that was unthinkable a few months ago. Therefore, complete environment but not to be totally avoided.”

atlcapital_sandra

atlcapital_sandra

Sandra Fernández – Investment Solutions Analyst at ATL Capital:

“It’s a fairly volatile time for fixed income. Yes, it is true that in recent months, the most conservative investors have suffered quite a bit, but currently creating a fixed income portfolio is easier than if we went back two months ago, so good moment for the investor who wants and can enter today”.

Source link

- Advertisement -

New Articles