By taking a global view of credit, the team at Western is able to think strategically about what risks around the world are ultimately worth taking. This global approach is complemented by having boots on the ground in major market centers around the world. Having local affiliate offices managing money represents one way to understand potential drivers of return and identify future risk and opportunities. At the beginning of 2015, Western had 47 research analysts covering markets around the world. 2014 saw a sharp differentiation in performance across sectors and quality. Going forward, we believe a large, experienced analyst pool will prove extremely beneficial in taking advantage of the greater opportunities this differentiation has created.
Ultimately, effective bond managers are only as good as their investment process. As we have outlined in this piece, we believe Western’s approach to fixed income can be a valuable resource to investors seeking to navigate the evolution of global credit markets.
1Western sub-advises five WisdomTree Funds, as of 12/31/14.
2Source: Morningstar, as of 12/31/14. For the 1-year period, CRDT ranked 75th out of 405 funds, beating 82% of its peers.
3Source: Bloomberg, as of 1/20/15.
4As represented by the Barclays Global Credit Index, as of 12/31/14.
Important Risks Related to this Article
There are risks associated with investing, including possible loss of principal. Foreign investing involves special risks, such as risk of loss from currency fluctuation or political or economic uncertainty. Investments in emerging, offshore or frontier markets are generally less liquid and less efficient than investments in developed markets and are subject to additional risks, such as risks of adverse governmental regulation and intervention or political developments. Derivative investments can be volatile, and these investments may be less liquid than other securities, and more sensitive to the effects of varied economic conditions.