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Published byJacey Garbe Modified over 8 years ago
Futuro Forum | Bowral 2012 Realm Investment – Fixed Interest
Realm Investment House Fixed interest – The good, the bad and the ugly. An investment approach
What is Fixed Income What are you missing out on? It is complex Very important part of your Asset Allocation
What about everything else Government Debt State Infrastructure Debt UnsecuredSecured (RMBS) UnsecuredAsset Back (Secured) Secured (Covered) International Debt MezzanineHybrid Deposits ADI DepositsCommercial PaperABCP Paper CommonwealthLocal Bank Debt Corporate Secured GovernmentCorporateABS Fixed CouponFloating CouponIndexed Coupon
Managing Risks Yield 8% Term Risk Relativities Solvency & Liquidity
It is Complex! – Term Risk Fixed Income is about managing cash flows and future Income Capital preservation with a focus on regular income The best thing for a fixed income investor is you get your money back
Relativities What's Happening
Managing Liquidity & Solvency What's Happening What’s in the Market What are we doing about it? Investment Committee Framework Asset Selection Portfolio Construction
Solvency Screening – the Six C’s Character Capacity Capital Collateral Conditions Capital Structure
Liquidity Analysis Everything above the line is relatively cheap Asset types available from a single Issuer ranked by credit Solvency Risk < ------- Less RiskMore Risk ------- >
Citi Group Economic Surprise index
3 Year Bond vs 10 year Bond Curve
Bank Asset vs Local GDP What's Happening What’s in the Market
European Debt What's Happening What’s in the Market
Australian 3Year Government Bond
US Bond Curves
Realm Investment House www.realminvestments.com.au Andrew Papageorgiou - Investment Manager Ph: +613 9008 7292 Mob: +61 428 137 366 email@example.com Robert Camilleri - Investment Manager Ph: +613 9008 7291 Mob: +61 413 096 374 firstname.lastname@example.org Richard Kerr - Investment Manager Ph: +612 8014 4234 Mob: +61 414 557 673 email@example.com
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