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Tame Risk.

Don't run from it. 

Why Focus on Risk? Explore Our Approach

An 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

Credit rewards discipline. When spreads widen or liquidity disappears at the wrong moment, bondholders learn quickly that “safe” can be situational.

Liquidity can vanish

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.

Global High Yield: Outlook 

An in-depth outlook on global high yield markets in 2026, examining how carry, dispersion and issuer selectivity shape opportunities and risks as the credit cycle matures. Find out:

With spreads tight and refinancing risk moving closer into view, the margin for error is narrowing.
Understanding where resilience lies will be key to navigating 2026.

 

Read our 2026 global high yield outlook

 

The Candriam approach

  Understanding what “taming risk” means and how Candriam puts it into practice.
Charudatta Shende, Head of Client Portfolio Management Fixed Income and Fixed Income Strategist, and Marie Thomin, Client Portfolio Manager

Why Candriam

Built on expertise. Driven by Risk Awareness.

 

Experience

Experience that compounds over time. Long-standing teams, deep market knowledge and a shared culture of risk awareness across market cycles.

 

Track Record

Shaped by risk discipline. Downside awareness over headline yield — reflected in an absence of issuer defaults and a disciplined, bottom-up process.

Innovation

Across a broad spectrum. Investment grade, high yield and specialist segments — long-only and long–short — all guided by the taming risk approach.

Recognised Expertise

Credibility reinforced. External recognition through industry awards and independent ratings, confirming process robustness and depth of expertise.

By the numbers

0

Issuer Defaults

across the credit strategies we manage - reflecting long-standing downside discipline

€57.25bn

Assets Under Management

As of 30/06/25
  Candriam's fixed income platform

20

Credit Experts

Portfolio managers, analysts and specialists across eight credit strategies

25

Years in Credit

Experience built across multiple market cycles and stress environments

Explore Our Fixed Income Universe


 

Drawing on more than 30 years in bond markets, Candriam's fixed income platform integrates macro perspective, credit selectivity and active risk management across market cycles.

 

Explore Our Fixed Income Expertise

Some Flagship Strategies

Designed to address different portfolio roles and market environments, anchored in a consistent, risk-first investment philosophy — emphasising disciplined construction, liquidity awareness and downside control.

Bonds Global High Yield

European & US corporate bonds, IG and HY (BB+ to B-), outside Financials

Sustainable Bond Euro Corporate

Euro Investment Grade credit with an ESG focus

Bonds Floating Rate Notes

Euro IG credit, 0-3yr segment: low duration, limited volatility

Bonds Capital Securities

Subordinated debt issued by high-quality financial institutions  

Bonds Credit Alpha

Long-short directional credit strategy with volatility below 10%

Our Insights

  • Tame risk, Fixed Income, Credit, Charudatta Shende

    Embracing risk in credit: the Candriam approach

    Explore Candriam’s disciplined approach to credit investing. Learn how issuer research, ESG integration and risk visibility help navigate volatility and construct resilient fixed income portfolios.
  • Q&A, Fixed Income, Credit, Patrick Zeenni, Thomas Madesclaire

    Unlocking extra income in subordinated financial bonds

    In a world where investors are constantly looking for more income opportunities and stability, subordinated bonds issued by banks and insurance companies constitute an interesting alternative.
  • Charudatta Shende, Fixed Income, Credit, Economic Outlook

    Credit: 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 Shende

    Credit 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.
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