Global Fixed Income



Tracking Error 1.5% - 2.5%
Excess Return 0.5% over a standard market cycle

Documents & Resources


Global Fixed Income (USD Hedged) is structured to exploit inefficiencies throughout the world’s bond and currency markets through disciplined fundamental analysis.

We believe that significant areas of the bond market are inherently inefficient and mean reverting, and opportunities exist to exploit the bond market's inefficiencies and mean reversion tendencies. We do this by applying a relative value approach to identify a diverse collection of active positions across sectors, countries, currencies and yield curves encompassed within a risk-managed framework. Our objective is to construct well diversified portfolios in which correlations among alpha sources are low with no single alpha source dominating performance.

Underlying Tenets:

  • Proprietary Fundamental Research
  • Diversified Sources of Return
  • Active Risk Budgeting


Investment capabilities are available to institutional clients through separate accounts, sub-advised portfolios and commingled vehicles. Please contact us for availability in your region.



Sources: Bloomberg Index Services Ltd, FactSet

Portfolio managers are not licensed by the Hong Kong Securities and Futures Commission to perform any regulated function in or from Hong Kong. Furthermore, none of the portfolio managers are located in or operate in or from Hong Kong.

Data reflects past performance. Past performance does not guarantee future results. The value of investments may fluctuate. Data assumes reinvestment of dividends and capital gains.