Securitized credit isn’t complicated. It’s an investment involving predictable consumer behaviors that have fueled economic growth for generations.
Now that yields have reset higher, bonds are positioned to protect portfolios while delivering higher income.
Floating-rate income and the secured nature of senior loans may provide a valuable defense against both rising rates and higher default risk for investors able to stomach short-term volatility.
Voya’s large cap value team believes that excess capital yield (ECY) provides a holistic view of the amount of capital a company has available to create value. We apply our ECY framework to evaluate stocks from a relative value perspective and construct a diversified portfolio with a higher yield than the benchmark.
A research framework to help investors understand how securitized credit fits into a broader investment portfolio.
Changes in the political and economic landscape are loosening the links in the global economy. New conditions will favor different strengths as businesses adapt.
In the drive for ESG investing, a gap has arisen between corporate bond and securitization markets. We see this as an opportunity to blaze new trails and influence better outcomes for investors, the environment and society.
Our experts, William Theriault, CFA, Senior Client Portfolio Manager, Equity, and James Dorment, CFA, Head of Large Cap Fundamental Research, discuss the growth/value cycle.
In the wake of Russia’s invasion, social factors such as energy supply security, consumer protection and responsible sourcing demonstrate the importance of an inclusionary ESG approach.
Russia’s energy tentacles, intertwined throughout Europe’s power network, may prove difficult to excise.
The U.S. Federal Reserve met expectations and increased interest rates by 25 basis points.
Should the Russia-Ukraine conflict persist, it would lead to further tightening of financial conditions but is unlikely to deter the Federal Reserve from a 25 basis point interest rate hike in March. Tighter conditions will slow economic growth at the margins and constrain financial markets over the short term, but not over the longer term.
While it might seem better to focus on current so-called ESG leaders, we believe there is untapped value in the underappreciated ESG improvers.