Fixed Interest: Back to the Future – Can the Delorean take us to double digit returns?

The Year was 2022: No asset class globally escaped the enormous price resetting created by the most aggressive tightening cycle seen in history. Fixed interest markets felt the most pain: US 10-year bonds fell 39.7% for the year. If we were lucky enough to be Marty McFly and set our dash clock back to 28 December 2021 (the market high), how would you manage a bond portfolio differently?

During this podcast, Craig discusses topics such as how Anthony and Western Asset Management adopt such a hugely successful fixed interest strategy to remain ahead of the market. How do you position fixed interest during an economic cycle? How do you reshape a bond portfolio given the frequently changing central commentary? Most importantly can bonds still act as a core defensive asset class – for all investors?

Craig sits down with Anthony Kirkham, the Head of Melbourne Operations and Investment Management for Western Asset Management. Anthony personally manages in excess of AUD$18 billion in fixed interest, spanning across more than 33 years of experience. Anthony is the Head of the Australian Investment team, Head of Australian Operations, and Portfolio Manager at Western Asset since 2007. Mr Kirkham holds a Bachelor of Commerce degree from the University of Melbourne, a Master of Applied Finance from Macquarie University and a Graduate Diploma from the Securities Institute of Australia. Anthony also holds the CFA designation.

Founded in 1971, Western Asset Management is one of the world’s leading fixed-income managers. With a focus on long-term fundamental value investing that employs a top-down and bottom-up approach, the firm has nine offices around the globe and deep experience across the range of fixed-income sectors. Western Asset Management’s parent company, Franklin Templeton, operates in 155 countries. Franklin Templeton offers boutique specialisation on a global scale, bringing extensive capabilities in equity, fixed income, multi-asset solutions and alternatives. With offices in more than 32 countries and approximately 1,250 investment professionals, the California-based company has 75+ years of investment experience and approximately A$2.1 trillion in funds under management as of 31 March 2023. 

Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.