In this #FundManagerChat podcast, Mike Scott, lead fund manager of the Man GLG High Yield Opportunities Strategy explains his investment case for global high yield bonds.
Mike outlines how he is finding opportunities in global high yield bond markets in the face of quantitative distortion by central banks, geopolitics and inflationary expectations. He discusses his current geographical preference for European and U.K. credit, how high yield credit can still diversify against equities.
He also explains why he believes he can continue to meet his performance target of a total return of 6-9% (net of fees) over a business cycle.
Finally, Mike reveals some of the key issues that investors may be overlooking when deciding whether to allocate to global high yield credit.
Running Order
| Run Time |
Topic |
| 00:20 |
Explain the objective of the Man GLG High Yield Opportunities Strategy |
| 01:20 |
What is the importance of the thematic element to your strategy? |
| 02:20 |
On volatility. How confident are you HY credit can maintain lower correlations to equities? |
| 03:50 |
You’ve an unconstrained portfolio. What’s attracting you to the U.K. and Europe? |
| 08:00 |
Should investors be worried about inflation? |
| 10:00 |
Where are we in the cycle? How confident are you that you can meet your performance objective? |
| 12:50 |
What potential tailwinds might investors be overlooking in HY credit? |
Mike is chatting with Jake Moeller, Head of Lipper UK and Ireland Research at Refinitiv, in London on February 26, 2019.
Man GLG are currently in the process of pre-authorisation with the FCA for a fund based on this strategy which is expected to be launched later in 2019.
About Mike Scott
Mike Scott, Man GLG. Photo with permission Man GLG.
Michael Scott is a Portfolio Manager at Man GLG and lead manager of the Man GLG High Yield Opportunities Strategy.
He has over 13 years of investment experience. He began his career at Cazenove Capital Management in 2005 before moving to Schroders in 2006.
Michael initially spent four years as a European industrials credit analyst covering investment grade and high yield and went on to become the lead high yield portfolio manager.
Michael graduated from Oxford University and is a CFA Charterholder.
Lipper delivers data on more than 265,000 collective investments in 61 countries. Find out more.
Disclaimer:
This material is provided for as market commentary and for educational purposes only and does not constitute investment research or advice. Refinitiv cannot be held responsible for any direct or incidental loss resulting from applying any of the information provided in this publication or from any other source mentioned. Please consult with a qualified professional for financial advice. The author does not own shares in this investment.
