This was our first introduction to the team. Lord Abbett are a US Fixed Income specialist investment manager. The strategy is a global high yield investment which enables the team to access a large market across different geographic locations, mainly in the US, but also Emerging Markets and Europe (including the UK).
Currently the fund is split 57.1% in the US, Developed Europe 16.4%, Emerging Markets 24.8% and other 2.2%. They operate a mix of top down and bottom up when looking for opportunities. By top down they are looking at economic trends, business cycles, industry outlook, competitive dynamics and regulatory environment.
In terms of bottom up they are looking at structure analysis, credit and liquidity profile, financial projections, operational initiatives and management assessment. In investing in Emerging Markets additional work is carried out around the rule of law, regulatory environment and currency….read more