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Hold to maturity (HTM)

Key features

  1. Holding bonds to maturity with a focus on securities with the strongest yield, while complying with a specific risk target
  2. Broad issuer and sector diversification in our portfolios aim to reduce default risk
  3. Low portfolio rotation keeps transactions costs to a minimum

 

Our strengths

  • process

    Conviction-Based Selection

    Our conviction-led selection draws on fundamental debt analysis and relative value analysis for issuers in any given country or sector.

  • asc-arrow

    Continuous Monitoring

    Our portfolio managers and credit analysts constantly monitor holdings in our portfolio in terms of both credit and market fundamentals.

  • efficiency

    Bespoke Portfolios

    We design customized portfolios to address each client's investment constraints in terms of asset class, ESG approach, currencies, maturities, SCR and accounting requirements.

  • Alexandre Caminade

    Alexandre Caminade

    CIO Core Fixed Income & Liquid Alternatives
  • Philippe Berthelot

    Philippe Berthelot

    CIO Credit & Money Markets
Related Strategies

Further reading

Reading time : 15 min.
INSIGHTS MARKETS
The covered bond asset class: an attractive investment compared to other high-quality liquid assets
Covered bonds are an essential financing instrument for banks in the euro area. ECB monetary tightening affects the covered bond market directly with the unwinding of CBPP3  holdings and indirectly with the TLTRO  repayment (freeing covered bond collateral). Mortgage loans are the main collateral for covered bonds. Housing has been hit by higher rates so that bank lending to households for house purchase shrunk. Covered bond supply should slow reflecting declining lending flows. Covered bond spreads tend to compare favorably to other similarly low-risk asset classes.
Read more
04/26/2024
Reserved for pros
Reading time : 15 min.
INSIGHTS MARKETS
Diversification, the Blind Spot of Equity Markets
In 2023, equity markets experienced a significant shift with the outperformance of Growth and Cyclical segments, driven by factors such as resilient economic activity, decreasing inflation, and expanded valuation multiples due to the surge in sentiment around generative AI.
Read more
04/17/2024
Reading time : 15 min.
INSIGHTS MARKETS
2024 Special elections – India
Read more
04/16/2024

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