Presentation is loading. Please wait.

Presentation is loading. Please wait.

Why UBS Global Asset Management For Global Bonds Globally resourced organisation covering the worlds major financial centres Long established and proven.

Similar presentations


Presentation on theme: "Why UBS Global Asset Management For Global Bonds Globally resourced organisation covering the worlds major financial centres Long established and proven."— Presentation transcript:

1 Why UBS Global Asset Management For Global Bonds Globally resourced organisation covering the worlds major financial centres Long established and proven experience in managing global government bond portfolios with opportunistic use of spread sectors Globally integrated quantitative tools are used at all stages of the investment process.

2 Our Approach Is Supported By… Government valuation model 1 Credit valuation model 1 Spread Factor model Mortgage model Currency valuation model 1 Risk model …Fully Integrated, Proprietary, Quantitative Tools 1 Integrated valuation models (Valmod)

3 Seasoned judgement Incorporating shorter term factors Valuation model output Fair values at equilibrium Investment strategy setting Model portfolios The Application of Seasoned Judgement Valuation models allows us to calibrate the extent of market misvaluation Key inputs are clearly identified Cyclical and secular changes can be incorporated Provides a baseline for further consideration Seasoned judgement is key in the strategy setting process and overlays model output, taking into account: Views and judgements of the regional teams Market dynamics Likely catalysts for change? Timescales involved The levels of investment risk required Within the Global Fixed Income Investment Process

4 Global Bond: Strategy Summary June 30, Citigroup World Government Bond Index as of 6/30/03 Totals may not add due to rounding Interest Rate Sensitivity/ Duration Sector/ Security Market Allocation Currency Allocation GLOBAL BOND PORTFOLIO Relative Duration Strategy MarketCurrency AllocationIndex 1 Allocation U.S. 0.90x Australia 0.70 Canada0.80 Denmark1.00 EMU0.90 Sweden0.80 Japan0.75 U.K.1.00 North America22.1% % Europe - EMU Europe - Other Europe U.K Japan Australia %100.0%100.0% Cash & Equiv.0.6% Govt./Agencies78.9 Corporates5.1 Mortgages 8.9 Asset-Backed3.7 Supranationals 2.7 Provincial 0.0 Totals100.0%

5 Global Bond Portfolio: Current Strategy For Periods Ending June 30, Citigroup World Government Bond Index as of 6/30/03 Totals may not add due to rounding.

6 Global Bond Portfolio: Duration Strategy June 30, 2003

7 Global Bond Portfolio: Market Allocation For Periods Ending June 30, Citigroup World Government Bond Index as of 6/30/03 Totals may not add due to rounding. Strategy ranges expressed with an explicit + or - sign are relative to the benchmark.


Download ppt "Why UBS Global Asset Management For Global Bonds Globally resourced organisation covering the worlds major financial centres Long established and proven."

Similar presentations


Ads by Google