A credit approach aiming to absorb shocks, not amplify them
Credit can feel calm because returns are steady most of the time. But credit is asymmetric: the upside is limited to the coupon, while the downside can be permanent if fundamentals weaken or liquidity disappears.
That is why our approach starts with risk management: we focus on making risk visible, measurable and discussable long before it has the chance to surprise a portfolio.
Why focus on risk?
A focus on risk is what turns credit from a source of uncertainty into a source of disciplined income. By analysing downside drivers, liquidity and structure in advance, investors can distinguish between risks that are compensated and those that are not.
The upside is capped. The downside is not
Credit rewards discipline. When spreads widen or liquidity disappears at the wrong moment, bondholders learn quickly that “safe” can be situational.
Liquidity can vanish when it matters most
Bond markets can be liquid in quiet conditions and unforgiving in stress. Managing liquidity early is part of managing risk.
Structure is part of risk
Covenants, seniority and recovery prospects often drive outcomes more than headline yield. In credit, the fine print matters.
The Candriam approach
Watch as two key members of Candriam’s Fixed Income team - Charudatta Shende, Fixed Income Strategist and Head of Client Portfolio Management, and Client Potfolio Manager, Marie Thomin – explain what taming risk entails and exactly how it’s done at Candriam.
Built on experience. Driven by risk awarenes
Why Candriam for credit
Experience
Experience that compounds over time. Candriam’s credit expertise is built on long-standing teams, deep market knowledge and a shared culture of risk awareness, supporting consistent decision-making across market cycles.
Track record
Innovation
Recognised expertise
Figures are worth a thousand words.
- 0 issuer defaults across the credit strategies we manage, reflecting a long-standing focus on downside risk and discipline.
- €16.5 bn in assets under management in credit as of 31/12/25
- 20 complementary experts dedicated to credit. Portfolio managers, analysts and specialists working together across Candriam’s 8 credit strategues
- 25 years investing in credit markets with experience built across multiple market cycles and stress environments.
Inside Candriam’s Credit Expertise
Learn more about our credit expertise
A comprehensive overview of Candriam’s credit capabilities, outlining our risk-first investment process, team expertise and range of long-only and long–short credit strategies.
Our credit solutions
Candriam’s credit solutions are designed to address different portfolio roles and market environments, while remaining anchored in a consistent, risk-first investment philosophy. Across core and specialised approaches, the emphasis is on disciplined portfolio construction, liquidity awareness and downside control.
Questions? Contact a representative
Candriam Bonds Global High Yield
European and US corporate bonds, investment grade and high yield (BB+ to B-), outside Financials
Candriam Sustainable Bond Euro Corporate
Euro Investment Grade credit with an ESG focus
Candriam Bonds Floating Rate Notes
Euro investment grade credit focused on 0-3yr segment: low duration and limited volatility
Candriam Bonds Capital Securities
Subordinated debt issued by high-quality financial institutions
Candriam Bonds Credit Alpha
Long-short directional credit strategy with volatility below 10%
-
Charudatta Shende, Fixed Income, Credit, Economic OutlookNavigating the Selective Strength of Credit Markets
Yields remain elevated across both U.S. and European markets, offering attractive carry for investors in both Investment Grade (IG) and High Yield (HY). -
Charudatta Shende, Fixed Income, Credit, Economic OutlookCredit in the Crosshairs: Navigating the Balance Between Technical Momentum and Fundamental Fragility
In what can only be described as an event-packed May, financial markets navigated a minefield of global macro developments: escalating US–China trade tensions. -
Charudatta Shende, Fixed Income, Credit, Economic OutlookCredit: Go with the Flows
April unfolded as a month of intense turbulence in financial markets, driven by a barrage of political manoeuvrings, economic uncertainty, and shifting monetary policies. Markets were rattled by elevated tariffs, escalating rhetoric, and retaliatory measures that prompted investors to reassess growth prospects, price in heightened recession risks, and retreat from riskier assets. -
Fixed Income, Credit, Economic Outlook, Charudatta ShendeCredit Markets: Don’t get “Carry-ed” away
Navigating fixed income markets can be a daunting task for those unfamiliar with their intricacies. A multitude of factors – fundamentals, valuations and technicals – can impact a wide range of instruments – sovereigns (developed & emerging), corporates (investment grade and high yield) –, contributing to a highly complex financial landscape. -
US elections, Christopher Mey, Paulo Salazar, Emerging Markets, Equities, CreditChina’s economic outlook: Opportunities and threats as US elections loom
Chinese authorities have begun addressing deflationary pressures through a series of monetary and fiscal measures, signaling their growing urgency to stabilise the economy. -
Fabrice Sauzeau, Climate Action, ESG, SRI, Credit, Equities, Research PaperFrom Carbon to Strategy: Why Integrate Climate into Your Investments?
While investors are encouraged to consider climate change in their portfolios, to meet regulatory requirements and mitigate climate-related risks, a number of questions remain. -
Q&A, Fixed Income, Credit, Nicolas JullienAn alternative strategy with low correlation to credit markets
Discover how Candriam, with its low-correlation alternative strategy, is navigating the credit markets in these paradigmshifting times. Nicolas Jullien and Thomas Joret provide you with the essential information you need to understand this strategy. -
Charudatta Shende, Emerging Markets, Fixed Income, Outlook, CreditOur 2024 Emerging Markets Debt Market Outlook
With 2024 underway, many bond investors are still wondering how the environment for Emerging Markets debt will differ from that of 2023.. Indeed, it looks more benign for Emerging Market Debt ….