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Put yourself in the corporate treasurer's shoes

16 Feb, 2024 | Return|

"What keeps me up at night is the idiosyncratic risk. I think that this year there is going to be a big difference between the have and the have nots, because a lot of companies are going to have to come to the market to refinance, particularly high yield companies. And for some of those companies, they are going find it very difficult to issue debt this year."

This week, Nicolas Trindade, Senior Portfolio Manager and lead manager of the A-Rated AXA Global Short Duration Bond fund, joined us on the podcast to share what he expects from the market and why we have seen record levels of issuance so far in 2024. He goes on to explain why idiosyncratic risk keeps him up at night, and how they try to limit this in portfolios.


Don't have time to listen to the full episode, jump to your favourite part:

  • 01:20 - What can investors expect from you?

  • 02:33 - How do you see the market evolving and how are you positioned to take advantage of that?

  • 04:20 - When are you expecting markets to cut rates and how will that impact duration?

  • 05:30 - What level of exclusions do you run in the portfolios?

  • 06:45 - What is the issuance like in the market?

  • 08:00 - How do you split your time in a normal day?

  • 10:45 - What keeps you up at night?

  • 13:30 - What themes are you running in the portfolio and what might make you reconsider your exposure?

  • 16:50 - An interesting statistic from the week.


This was recorded on Monday 12th February 2024. This podcast is only aimed at professional advisers and regulated firms and should not be passed on to or relied upon by any other persons. It is not intended for retail investors, who should obtain professional or specialist advice before taking, or refraining from, any action on the basis of the podcast, remembering past performance is not an indication of future performance. It is published by, and remains the copyright of, Square Mile Investment Consulting and Research Ltd. Square Mile makes no warranties or representations regarding the accuracy or completeness of the information contained herein. This podcast represents the views and forecasts of SM at the date of issue and may be subject to change without reference or notification to you. Nothing in this podcast shall be deemed to constitute a regulated activity or an invitation or inducement to engage in investment activity and it is not a recommendation to buy or sell any funds or investments that are mentioned during this podcast.


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