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We have been building our fixed income business since the early 1980s, expanding our capabilities over time to meet client needs.
Overview
We offer our professional clients a broad spectrum of fixed-income strategies encompassing global, absolute return, investment grade, high yield, developed credit, Swiss bonds, emerging market bonds, private debt and money market funds.
Fixed income at PAM
Source: Pictet Asset Management, all data as at 30.12.2023

Our priority is ensuring that each one of our independent fixed income teams is focused only on investing, while benefiting from the support of our wider platform.

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Mary-Therese Barton Chief Investment Officer Fixed Income

Our key strengths

We believe the following attributes differentiate our approach to fixed income investment:

  • Complementary Mindsets
    We combine our absolute return with our long-only talent and expertise. This helps us in our pursuit of alpha.
  • Embedded Research
    Economists and credit analysts are embedded in our fixed income teams rather than a standalone central resource. This places fundamental research at the heart of our portfolio construction.
  • Collaboration
    We share, we debate, we decide. Healthy friction builds our conviction. Teams from liquid to illiquid e.g. Distressed Debt and public to private e.g. Private Credit sit together.
  • Experience and Innovation
    We’ve been running fixed income portfolios since the early 1980s. We apply the lessons learnt from our experience of macro, credit and volatility cycles to identify opportunities as fixed income markets evolve.
  • ESG and Risk Partnership
    We prefer partnership over policing. Our team’s close relationship with risk management and integrating ESG in processes augment our idea generation and our risk calibration.
  • Strength in Breadth
    From money markets to distressed debt, from developed to emerging market credit and from Swiss to Chinese bonds. We have a wide assortment of building blocks for clients looking for fixed income exposure. These components can also be used to create bespoke portfolios.

Selected insights

Read more content related to fixed income investing.
Strategies

Our fixed income absolute return strategies aim to provide investors with steady, risk-adjusted absolute returns despite a diverging yield environment. They are not constrained by any market benchmark and can invest globally across all fixed income sectors. Each strategy is differentiated by its risk-return profile. We place a particular focus on reducing volatility and ensuring liquidity for our investors.

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We have been managing emerging market debt assets since the late 1990s. Over time, we have developed our expertise in all segments of the asset class, with team members located in London and Singapore.

Today, we offer emerging market debt exposure through several investment approaches, covering sovereign and corporate issuers on a global and regional basis.

In our sovereign teams – where we have the longest track records – our goal has always been to provide meaningful exposure to emerging markets with a defensive profile in down markets.

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We believe in a cross-over approach to developed credit investing, embodied by our combined research team for investment grade and high yield. All our developed credit teams are based in our Geneva office and supported by a dedicated risk and trading functions.

We started offering investment grade strategies in the 1980s, followed by high-yield ones the following decade before launching a global sustainable credit approach in 2017.

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With our strong experience in fixed income and hedge funds, expanding our investment offering to fixed income hedge funds was a natural progression.

We started with the launch of Kosmos, a global long/short credit strategy, in 2011. Since then, we have also launched the Sirius strategy in 2019, which follows a liquid global macro emerging market long/short fixed income approach, as well as a long/short distressed and special situations debt strategy at the end of 2019.

Please click here for more information on our alternative capabilities.

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We started investing in Swiss bonds in the 1990s.

Today, our long-standing expertise allows us to offer investors a broad range of Swiss bond solutions, ranging from active, semi-active, passive or even SRI investment strategies. The investment style is more strategic than tactical, fundamental and based on a strong capital protection discipline.

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We offer exposure to the global fixed income universe through distinct investment approaches, encompassing global bonds, absolute return and sustainable strategies.

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We started managing money market assets in the 1990s.

Our point of differentiation is that we invest in a broader opportunity-set of money market assets than a typical money market manager. This means we complement a more mainstream money market allocation. 

We offer an established range of four cash product families, domiciled across Luxembourg and Switzerland, and in various currencies: sovereign short-term money market; short-term money market; enhanced liquidity; ultra-short-term bond.

The Pictet Money Market funds are compliant with the new European Money Market Regulation.

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Funds

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