Multi-Asset Credit

Active allocation across a broad range of credit fixed income asset classes.

Multi-Asset Credit (MAC) portfolios invest in an unconstrained global opportunity set with the flexibility to invest across all major credit asset classes and seeks to achieve an attractive total return rather than to outperform a specific benchmark. The MAC strategy was developed as part of our ongoing effort to deliver a variety of solutions to our institutional clients.

The MAC strategy seeks to generate returns by combining a credit research-driven security selection process with a macro driven, active fixed income asset allocation process. The strategy encompasses all major asset classes, namely: investment grade, securitized, high yield, bank loans and emerging markets debt. The MAC strategy leverages all members of the investment team at Stone Harbor. Our multi-sector approach utilizes a disciplined cross-market analysis and sector allocation process to seek to uncover inefficiencies and investment opportunities globally.

Asset class positioning is driven by our economic forecasts and expectations for global growth and inflation, assessment of risks around these expectations, valuations both across the broad credit spectrum and across asset classes and an analysis of investor flows. Within each asset class, sectors, industries and companies are covered by our specialists globally to identify specific credit investments and provide input into top-down allocation decisions. Security selection decisions are made by sector specialist teams based on thorough understanding of specific fundamentals, issue valuation and market technicals. The team utilizes risk tools and analytics to support asset allocation and security selection decisions.