Morningstar rates AMP Capital's fixed interest strategy
The research house describes it as being a traditional approach to fixed interest investing, and one which is more conservative than many peers.
AMP Capital’s head of fixed interest Grant Hassell has been running the strategy almost since its inception in 1995.
The fixed interest team specialise in macroeconomic markets, which serves this strategy well given the preference for adding value using interest rate management rather than taking credit bets.
“The strategy invests in government bonds (including local government), high-grade corporate debt, and interest rate swaps. AMP Capital has a conservative style, and attempts to diversify risk where possible. True, interest rate risk is a factor here, and this careful approach has lagged peers at times, such as during the middle of this decade. But therein lies the appeal.”
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