PARAMS EN MY ACCESS CONTACT US DISCOVER UBP PRIVATE CLIENTS INDEPENDENT ASSET MANAGERS INSTITUTIONAL CLIENTS INVESTMENT EXPERTISE FUNDS INVESTMENT EXPERTISE GLOBAL & ABSOLUTE RETURN FIXED INCOME UBP Global and Absolute return fixed income team is a multi-awarded team managing a range of investment solutions across the global fixed income spectrum. The team has been successfully managing and growing both benchmarked solutions (such as Investment Grade Corporate bonds) as well as absolute return strategies, which offer volatility-optimized solutions for fixed income investors. Its top-down macro identity and strong focus on liquidity has led to its innovative and awarded approach in managing high yield securities. The Global & Absolute Return Fixed Income team offers a range of investment solutions both through mutual funds and dedicated bespoke mandates. It proposes traditional fixed income solutions covering segments such as government and investment grade corporate bonds. In addition, and readying for the lower yield environment it has been developing a range of volatility-optimised absolute return strategies with 3 different target return levels. Last, its strong top-down macroeconomic-driven investment process has led to its innovative solution for investing in high yield securities, as well as its income solution for CHF-based investors. Investment philosophy and principles The team’s philosophy is top-down macroeconomic driven. It rests on the observation that the key investment performance driver of any fixed income portfolio is its broad asset allocation. This belief has led to the following core investment principles: Macro: The team is top-down macroeconomic-driven and asset allocation across fixed income segments is its key value added. It works with proprietary macro indicators (with 15-year track record) Liquid: The team puts a strong focus on the liquidity of the instruments used, to allow for efficient implementation of its allocation decisions (i.e. investing and divesting a segment) Disciplined: The team believes in investment discipline to preserve returns and optimise risk-reward. It works with tailor-made pragmatic risk modelling tools, such as hands-on stress tests and real-time performance monitoring Team-based: The team fosters a culture of complementary investment professionals challenging investment hypotheses from different angles In abiding to its core principles number 1 and 2, the team has a very restrictive approach to investing in high yield securities. Industry recognition UBAM - Global High Yield Solution is best in class vs. its peer group over 1 year, 3 years and since inception(1) UBAM - Global High Yield Solution was awarded a Lipper Awards for best fund over 3 years in 2014 and in 2015 UBAM - Global High Yield Solution achieved a 5 Star Rating from Morningstar (1) Source: UBP, peer group of US and global high yield mutual funds, since 03.12.2010 and as of 29.02.2016. Investment process The investment process follows three key steps 1. Definition of top-down macro scenario and allocation views Cyclical and structural economic trends, monetary policies Politics and overarching market themes Top-down relative value analysis (focus on segments) Output: allocation views 2. Risk and correlation analysis of allocation views Volatility and correlation analysis Stress tests and drawdown scenarios Output: concrete asset allocation adapted to the constraints and risk limits of any given portfolio 3. Bottom-up instrument selection Fundamental bottom up credit research (focus on investment grade) Bottom-up relative value analysis (focus on issuer and instrument) Output: portfolio construction Performances are monitored in real time and all steps above are reviewed on an ongoing basis ensuring swift integration of new information on any dimension, i.e. a new input on the macro, risk or bottom-up front DISCOVER UBAM - GLOBAL HIGH YIELD SOLUTION OUR FUND RANGE Funds View all our funds. READ MORE Institutional clients With a team of more than 200 people, UBP Asset Management has built an on-the-ground presence in the world’s major markets through organic growth and selected partnerships. INSIGHT 14.08.2017 Asian Stocks Climb Higher, led by China and India MARKET INSIGHT 31.08.2017 Positive trend in US household income and spending; firmer Eurozone inflation than expected More More KEY MEDIA INFORMATION Press area Access point to all relevant information on UBP: Contacts - Press releases - Corporate documentation - Experts NEWSROOM Latest news from the Bank CAREER See the Group’s job offers and apply online Client Documentation Specialist (Temporary) Infrastructure & Security Project Manager (External) Consultant CID Run (External) UBP IN THE PRESS 09.08.2017 Dealing in diversification ASSET ALLOCATION PRIVATE BANKING ASSET MANAGEMENT INVESTMENT EXPERTISE CONVERTIBLES RISK MANAGEMENT ALTERNATIVE INVESTMENTS SITEMAP GLOSSARY CONTACT US OUR OFFICES LEGAL MENTIONS PRIVACY POLICY FOLLOW US UNION BANCAIRE PRIVÉE, UBP SA