Focus on credit: what if fear created opportunities?
Company defaults are expected to rise in the current crisis. What are the implications for credit investors?
Check out what Pierre Verlé, Head of Credit and Fund Manager at Carmignac, has to say in this previously unreleased interview with Didier Saint-Georges:
Past performance is not necessarily indicative of future results.
Credit markets driven by fear offer greater opportunities – because fear is what creates bond-picking opportunities
Backdrop
An environment characterised by major concerns over rising default rates, yet with huge amounts of capital allocated to corporate credit as a wholeImplications
A highly segmented market, spanning bonds considered safe investments and thus extremely popular along with less straightforward instruments whose potential is underrated by the marketOur strategy
We thoroughly analyse issuers and estimate their fundamental cost of risk to be able to hunt down attractive opportunities and thereby create value.Related articles
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Promotional material. Interview recorded the 15/10/2020.
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Carmignac Portfolio Unconstrained Credit is a sub-fund of Carmignac Portfolio SICAV, an investment company under Luxembourg law, conforming to the UCITS Directive.
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