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At AlbaCore, we focus on the long-term. As one of Europe’s leading alternative credit specialists, we invest in private capital solutions, opportunistic and dislocated credit, and structured products. 

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Our philosophy is very simple. We are constantly searching for high quality businesses and when we acquire them, we will work relentlessly with them to create long-term sustainable value through innovation, ESG-led and proactive asset management.

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Leader in active quantitative equities across Australian equities, global equities, emerging markets and global small companies.

Backed by a unique blend of research, portfolio construction and risk management, focused on uncovering original insights and translating them into investment strategies that are active and systematic, aiming to generate alpha.

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Stewart Investors manage investment portfolios on behalf of our clients over the long term and have held shares in some companies for over 20 years. They launched their first investment strategy in 1988.

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Asian Fixed Income

Asian Fixed Income

Opportunities within a fast evolving and diverse Asian Credit landscape

The Asian Investment Grade (IG) market has more than doubled in size over the past decade and we expect that trend to resume as issuance volume returns

Asia remains the fastest growing region, with countries such as Indonesia and India still having a strong domestic story to support strong growth.

Inflation has been less of a problem for Asia when compared to developed economies and Latin America, and easing rates should cushion Asia’s headwinds in growth in 2025.

Asian countries compare favorably against developed markets as a resource rich region moving up the global value chain, with further growth potential coming from a younger demography.

Asian USD Credit

The strategy seeks to deliver attractive and consistent returns by investing in a diversified portfolio of USD-denominated investment-grade bonds issued by Asian governments and corporations. Selective positions in local currencies may also offer additional return opportunities.

Asian USD Credit

Steady Income

We believe Asian Investment Grade Credit remains attractive from an all-in yield perspective

Asian USD Credit

Diversification

Despite rising correlation between asset classes, Asian credits still offer attractive diversification to investors’ portfolios over the longer term

Asian USD Credit

Untapped potential

Asian Dollar Credits form an underinvested market set against a backdrop of steadily  growing investment universe of Asian bonds

Asian USD Credit

Resilience

Asian issuers have demonstrated prudent financial management across market cycles. State owned entities benefit from strong governmental support

Dynamic Rates and Currency

The strategy invests across a broad spectrum of government bonds from both developed and emerging markets, complemented by active positions in interest rates and currencies to enhance return potential.

Rates and FX

Agility

A strategy designed to capture quick turns in rates and currency trends

Rates and FX

Dedicated Expertise

Asian based team focused on navigating investment opportunities to uncover market inefficiencies in emerging markets

Rates and FX

Investment Potential

Despite increasing market capitalization, an underinvested Asian local bond market presents long term upside for returns

Rates and FX

Global Flexibility

Investment opportunities from local and hard currency rates from over 20+ countries across various currencies, enhancing alpha opportunities

Asian Total Return

The strategy seeks to deliver superior total returns through a combination of income and capital appreciation, driven by the investment team's high-conviction positions in credit and government bonds, as well as strategic views on interest rates and currencies.

Asian Total Return

Flexibility

Asia focused portfolio that seeks out the best relative value investment among securities and sectors in Asian Fixed income markets

Rates and FX

Opportunistic

Investing across the credit spectrum, seeking alpha from both yield and capital gains

Rates and FX

Investment Potential

Resource rich region with economies at various stages of maturity offering diverse investment opportunities

Rates and FX

Region focus

Asian based credit analysts focused on navigating investment opportunities to uncover idiosyncratic credit opportunities

Our difference

A proven and differentiated investment philosophy

We consider risk management as key to our philosophy, and one that permeates every stage of our investment process. We follow a prudent investment approach which aims to achieve consistent income generation and risk-adjusted returns. Country selection reflects the output of our Asian markets assessment which includes quantitative and qualitative analysis. Duration and yield curve management reflect our thematic, factor based approach.

Consistent long-term performance track record

Positive risk-adjusted returns generated over 3-5 year time horizons.

ESG integration

We have an Environmental, Social and Governance (ESG) process that is built in at both the company and product level. More importantly, ESG risk factors are an important consideration in the assignment of credit ratings on individual issuers.

Multi-dimensional credit research

Credit research focuses on assessing credit risk and identifying deteriorating issuers. Our analysis considers a variety of risk dimensions, enabling significant breadth.

All positions in our portfolio are backed by research

We are stewards of our clients’ capital, and we take that very seriously. 

We believe that successful fixed income investing requires a deep focus on risk management, given the inherently asymmetric nature of the investments. For this reason every position in the portfolio is backed by in-depth research.  Identifying rating  migration and defaults is as important as finding relative value opportunities. 

Options and opportunity

We stand at a juncture where we believe Asian Fixed Income should be considered a strategic and complementary allocation when constructing a portfolio. Our diverse clients around the world have a wide variety of investment goals and challenges we like to help them solve.

Diversification

Offering our clients diversification within their portfolios:

  • To existing Fixed Income exposure
  • To Sovereign Emerging Markets exposure
  • To Investment Grade developed market exposure

Income

Offering our clients the potential for a stable income stream

Growth

Giving clients exposure to corporate credit companies, driving global economic growth

 

Responsible investment

Our corporate responsible investment strategy is based upon three strategic pillars of quality, stewardship and engagement.

Our approach to investing is driven by a commitment to providing the best possible outcomes over the long term for our clients. The team considers ESG factors relative to their potential impact on financial performance. We believe that ESG issues have a significant bearing on risk.

Learn more about the Asian Fixed Income team's approach to responsible investment

Meet the investment team

Nigel Foo

Head of Asian Fixed Income

Fiona Kwok

Portfolio Manager

Adeline Tan

Portfolio Manager

Jin Hur

Credit Analyst