Core Bond Fund
The Nedgroup Investments Core Bond Fund invests primarily in bonds and any other interest-bearing securities which are consistent with the investment objective. Underlying collective investment schemes may also be held.
The Nedgroup Investments Core Bond Fund invests primarily in bonds and any other interest-bearing securities which are consistent with the investment objective. Underlying collective investment schemes may also be held.
David Roberts and Alex Ralph explain why counting bonds can create the illusion of diversification.
Complexity is easy to add and hard to remove. Tom Caddick argues that the best investment boutiques see the discipline of stripping it away – keeping only insight, conviction and judgment – as their sharpest edge.
Future asset management distribution models will look very different. Successful investment firms will have humble leaders who effectively orchestrate internal talent, specialist external partners and AI-enabled workflows, argues Apiramy Jeyarajah.
Scale is often touted as an asset manager’s most significant moat. However, as Tom Caddick argues, artificial intelligence challenges this notion, and arguably hands the advantage to smaller, nimbler firms.
In large organisations, responsibility can drain into accountability sinks. In boutiques, there is no place to hide, which changes decision-making in ways investors should care about, argues Tom Caddick.
In over two decades of managing investments, I have never once read a headline that indicated everything is fine and markets are ticking along nicely. That is not by chance. This is not a criticism of the media - it is simply how the information economy works. But it has a real and measurable effect on investor behaviour and understanding that effect is one of the most important things any long-term investor can do.
For all the talk of turmoil in bond markets, yields have barely moved. With high-quality paper paying mid-single digits, investors don’t need to do anything clever to beat the bank or inflation, explains David Roberts.
An investment process is defined as much by what it refuses to hold as by what it buys. And with high-quality yields at levels not seen in a generation, the things a bond fund rules out cost less to give up than at almost any point in living memory, as David Roberts and Alex Ralph explain.
Liquidity is often treated as a constant in public markets, something investors can rely on. Recent events suggest a more complex reality. Many current concerns around credit are focused on private credit – and that conversation is worth having – but for investors in public fixed income, the more relevant question is: do you really understand the liquidity profile of what you hold?
With defaults, concentration risk and redemptions rising in private credit, the structural advantages of public fixed income – transparency, flexibility and daily liquidity – are coming back into focus.
Our industry has a predictable pattern. Someone launches a product. It gains traction. Marketing departments worldwide declare it revolutionary. Money pours in. Then, slowly, the fundamental questions emerge. Does this actually serve clients? Does it do what it claims? Does it solve a real problem or create new ones?
Big firms add people, products and process to reduce risk. Boutiques can win by removing the constraints that can kill your edge, and also by recognising that more information does not always equal better decisions.
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