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Philippe Dehoux
Head of Global Bonds
Interest rate movements, allocation between fixed income asset classes and sectors, credit selection and currencies are all potential sources of outperformance and absolute returns across our strategies.
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”Risk management is embedded at all stages of our approach, taking benefit of proprietary risk budgeting. As active, conviction-based investors, we believe our approach is designed to drive strong and consistent performance while strictly monitoring our exposure and risk.
At the heart of our investment process is market analysis. For each major economic bloc, we seek to understand where it stands in the business, monetary and financial cycles. The results of this analysis are then combined with valuation and technical assessment for each asset class, using both proprietary models and in-depth fundamental analysis.
ESG considerations are integral to our investment approach. We use these factors to help decide our internal credit scores. We consider sustainability both in how secular trends, such as resource depletion, can affect an entire industry, as well as issuer-specific factors, such as weak governance or poor relationships with stakeholders.
We select what we believe are the most attractive issuers in each segment from a bottom-up perspective. All bonds are selected with a keen awareness of the asymmetric risk profile of fixed income markets, with avoiding downgrades and defaults paramount.
billion of client assets managed in the team in fixed income portfolios
Key strategies: Euro Sovereign, Euro/Global Aggregate, Sustainable Aggregate, Global Inflation, Total Return and Impact
investment experts across Sovereign regions and corporate credit
years of experience
The expertise of Candriam’s Global Bonds team has been built over more than 25 years of investing. Some of the team’s most senior investment specialists have formed its part for over 20 years.
Most of our specialists have been investing in global bonds market long enough to witness several market cycles. Each focus on specific geographic areas and/or market segments. They further benefit from the combined expertise of Candriam’s quantitative, credit and ESG analysts. Exchange with other Fixed Income Teams in credit, emerging markets and convertibles allows for further cross-fertilisation of ideas and more comprehensive investment insights.
We offer a broad suite of solutions within a global and European bond universe, ranging from pure Sovereign investment strategies to Inflation-Linked, Aggregate and Total Return. In addition to exclusions, ESG Integration and ESG KPIs in all strategies, we manage a range of dedicated of dedicated Sustainable funds with a Best-in-Universe approach, including an innovative Impact solution.
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