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The New Capital Global Value Credit Fund looks to optimise global credit allocation: we believe investing in fixed income globally often does not offer sufficient compensation for the risk taken.
We aim to achieve a higher yield than the benchmark average by providing investors with a shorter duration product, which accesses the best value opportunities around the world – an attractive alternative to either going into high yield or increasing duration.
This is a hard currency-focused globally diversified fund, primarily investing in investment grade bonds. Compared with many of our benchmark-orientated peers, we are much more diversified than traditional global bond funds that are largely exposed to Europe and the US. The portfolio includes Japan and Australia for example, with up to 20% exposure to emerging markets and 20% to high yield.
Our top-down macro approach determines the broad risk parameters. We then take a bottom-up approach, seeking for the best value opportunities through our quantitative model to deliver that macro view.
We are always looking to be rewarded more than the market average for the credit quality and achieve a higher yield relative to the risk taken. We constantly aim to rotate to cheaper value opportunities in our asset allocation.
A lot of investors are looking for more complicated ways of generating extra returns in global fixed income markets – in currency or in less liquid securities, for example. The New Capital Global Value Credit Fund offers core low duration exposure to credit, so investors know what they are getting in terms of credit exposure, risk and duration management.
Michael Leithead explains the New Capital Global Value Credit Fund's unique approach
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Issued by EFG Asset Management (UK) Limited. Registered in England and Wales 7389736.Registered Office: Leconfield House, Curzon Street, London, W1J 5JB. Authorised and regulated by the Financial Conduct Authority.
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