High yield bond

High yield bonds presentation (PDF file, 1.5 MB)


Top-Down Approach

Assessment of macro and microeconomic factors, the political environment and currency and interest trends.

Bottom-Up Approach

Systematic evaluation of the individual high yield bonds with a strategic focus on states, sectors, markets with stable earning situations or great potential for restructuring/growth.

Based on fundamental analyses we sift out securities of companies which demonstrate upright management and outstanding products/processes.

We place great emphasis on:

  • Political situation
  • Economic situation/raw materials
  • Market power/barrier to entry
  • Strategic shareholders/position
  • Improvement potential rating
  • M&A or LBO danger



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