Citywire Selector Symposium 2023

Presentation Summary:

As the world transitions towards net-zero emissions, rapid large-scale decarbonization is needed to limit global warming. Capital reallocation across all asset classes is required to facilitate that change, and we believe fixed income plays a critical role, while representing an attractive investment opportunity. 

Allspring Global Investments will share more insights on how climate transition investment grade and high yield portfolios can effectively be decarbonized while enabling the transition to a net-zero economy without sacrificing performance with our climate transition credit strategies.

Company Profile:

Allspring Global Investments, a leading independent asset management firm that offers a broad range of investment products and solutions designed to help meet clients' goals. With more than $547 billion in assets under advisement ( as of 30/6/23) and 23 offices around the world, our vision is to inspire a new era of investing that pursues both financial returns and positive outcomes. With decades of trusted experience propelling us forward, we strive to build portfolios aimed at generating successful outcomes for our clients. We do this through the independence of thought that powers our investment strategies and by bringing a renewed approach to look around the corner to unlock what's possible.

Presentation Summary:

Medtech & Services comprises the entire healthcare sector excluding pharma and biotech, and makes up ca. 10% of global GDP. This provides a vast universe of innovative and attractive companies to invest in, while demographic trends give the sector a uniquely stable, non-cyclical demand function. The Bellevue Medtech & Services (Lux) fund offers access to the intersection of medical innovation and digitalization, and benefits from the defensive characteristics of the sector at the same time.

Company Profile: 

Bellevue Funds (Lux) SICAV is an investment fund specialized in healthcare investing. 
Sub-funds include actively managed UCITS funds focused on Biotechnology, Medtech, Digital Health, Asia Healthcare, and Sustainable Healthcare, managed by individual teams of investment professionals with distinct scientific backgrounds. The investment approach is scientific, research-based, bottom-up and committed to sustainable investing. The team is well-connected to leading healthcare experts, frequently participates in healthcare industry events and maintains ongoing idea exchanges and R&D updates with companies globally.

Presentation Summary:

With the sharp rise in base rates and a resilient economy, floating rate private credit loans have outperformed other constituents of the fixed income universe, particularly when accounting for volatility. While secular tailwinds should continue to support private credit, the rapid expansion in AUM warrants a closer examination of the internals driving that growth. Private credit has shown the ability to weather macroeconomic shocks before, but it is a heterogenous asset class and is not immune from speculative excesses, as the 2021-vintage shows. Looking ahead, Benefit Street believes that a disciplined and selective approach will be the key to identifying dislocations in the market and generating sustainable returns over the next market cycle.   

Company Profile - Franklin Templeton:

Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,300 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and over US$1.4 trillion in assets under management as of 30 June 2023. 

Company Profile - Benefit Street Partners:

A leading, credit-focused alternative asset management firm for both institutions and high-net-worth investors.

The BSP team invests across the credit spectrum – from senior secured debt to subordinated debt, as well as both liquid and illiquid credit and seeks to generate attractive risk-adjusted returns. We have extensive experience deploying capital through multiple business cycles with the objective of delivering on the investment goals of our investors.

With our recent acquisition of Alcentra, BSP has 411 employees and 173 investment professionals. (as of 31 Mar 2023). Our senior management team has worked together for over two decades. The firm is led by a talented team of portfolio managers and investment professionals, which include a dedicated research team with sector-specific expertise. The firm’s complementary strategies leverage the proprietary sourcing, analytical, operational and compliance capabilities that encompass BSP’s robust institutional platform. Our headquarters are in New York, with additional offices in Boston, Rochester, West Palm Beach, Dallas and London.  BSP is a wholly owned subsidiary of Franklin Resources, Inc. (Franklin Templeton).

Presentation Summary:

With income being back in fixed income, where does Lord Abbett see some of the best opportunities across the capital stack and yield curve. Namely the relative value opportunity that exists across the high credit quality space at the front end of the yield curve. From a sector standpoint, what are some of the unique benefits & features of asset backed securities when incorporated into an overall fixed income portfolio. 

Company Profile:

About Us | Lord Abbett

Lord Abbett is a 94-year-old, independent & privately owned, US founded asset management firm with USD 196bn in AUM with 100% of its revenue driven through active money management.

Lord Abbett has been growing faster than other active managers across the globe largely, where much of this explosive growth can come from their expertise in fixed income (which makes up USD 166bn of their USD 196bn under management). Beyond credit, Lord Abbett also has an equity platform highlighted by their innovation growth franchise.

The most recent growth area is in Asia as private banks have recognized their differentiated and proven approach to managing high quality, short duration fixed income. This includes their flagship USD 62bn Short Duration Income strategy, the largest actively managed short duration product in the category.