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Decline

Opportunity: Credit investing

Seizing the opportunity in the credit market

While segments of the market are leaning towards the prospect of a soft landing, we maintain a more cautious view. The current yield environment continues to be compelling, offering credit investors the benefits of high-quality carry, higher yields, and improved diversification of risks.


Why credits?

The credit asset class offers investors a variety of options with attractive risk-return characteristics.

History shows us that over the long term, corporate bonds have provided diversification and helped to reduce portfolio volatility.

Aside from the diversification benefits, investors have historically allocated to this asset class to benefit accordingly as income return is a substantial driver of longer-term bond returns. With yields still high and rates set to come down, now is an opportune time to pivot to credits.

Joop Kohler - Head of Credit team

Joop Kohler
Head of Credit team

In the current landscape, a strategic focus on credit instruments aligns with market conditions and offers a balanced approach to risk and return

Why now?

While markets have fully embraced a soft-landing scenario, we believe that the risk of a recession remains high after such a strong rate hike cycle by central banks. In this environment we believe that investment grade and cross-over (BB-rated) credit offers good value compared to cash, government bonds, and equities. Investment grade companies are better positioned to absorb higher interest rates and potentially offer an attractive yield and income to investors.

Defining fair value in global credit markets

Why Robeco?

We’ve been corporate bond investors since the 1970s and were one of the first European investors to launch a global high yield credit strategy. We’re also an industry leader in sustainable credits investing, with ESG and SDG integration as well as climate-focused credit strategies.

Contrarian approach

Our style is contrarian, value-focused and research-driven. The success of this style relies on our in-depth research capabilities. Robeco’s international team of analysts has the research skills, global sector expertise and sustainable investing knowledge necessary to help the portfolio managers to select the best opportunities.

Sustainability included

Robeco has long been a leader in SI. Our rigorous sustainability checks and balances help us make better-informed investment decisions.

Our solutions

Some segments of the credit market are particularly interesting in the current market environment: short maturity credits benefit from additional credit spreads with only limited duration risk; investment grade credits, which are the least vulnerable in case of a recession; and high-quality crossover credits, which offer an attractive yield pickup while being well-positioned in case of increased credit volatility.

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Short maturity

Short maturity

Robeco Global Credits - Short Maturity. This strategy invests globally in short-dated investment grade credit corporate and financial credit to limit interest rate and spread risks.

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Investment grade

Investment grade

Robeco Global Credits. This strategy invests globally in investment grade corporates and financials and can invest outside of the standard index.

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Robeco Euro Credit Bonds. This strategy invests in European investment grade corporate bonds and financials and can invest outside of the standard index in high yield and emerging markets.

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Crossover credit

Crossover credit

Robeco SDG Credit Income. This multi-asset credit strategy invests primarily in short-dated and high-quality investment grade and crossover (BB) credit and screens out companies that have a negative impact on the 17 UN Sustainable Development Goals to enhance the sustainability profile of the portfolio.

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High yield

High yield

Robeco High Yield Bonds. Successful global high yield capability and track record since 1998. The strategy is known for its conservative and contrarian investment style with a structural underweight in CCC-rated issuers.

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Robeco

Robeco aims to enable its clients to achieve their financial and sustainability goals by providing superior investment returns and solutions.

Important information This disclaimer applies to any documents and the verbal or written comments of any person in presentations or webinars on this website and taken together is referred to herein as the “Information”. The services to which the Information relate are NOT FOR RETAIL CLIENTS - The information contained in the Website is solely intended for professional investors, defined as investors which (1) qualify as professional clients within the meaning of the Markets in Financial Instruments Directive (MiFID), (2) have requested to be treated as professional clients within the meaning of the MiFID or (3) are authorized to receive such information under any other applicable laws and must not be relied or acted upon by any other persons. This Information does not constitute an offer to sell, or a solicitation of an offer to buy, any financial product, and may not be relied upon in connection with the purchase or sale of any financial product. You are cautioned against using this Information as the basis for making a decision to purchase any financial product. To the extent that you rely on the Information in connection with any investment decision, you do so at your own risk. The Information does not purport to be complete on any topic addressed. The Information may contain data or analysis prepared by third parties and no representation or warranty about the accuracy of such data or analysis is provided.
In all cases where historical performance is presented, please note that past performance is not a reliable indicator of future results and should not be relied upon as the basis for making an investment decision. Investors may not get back the amount originally invested. Neither Robeco Institutional Asset Management B.V. nor any of its affiliates guarantees the performance or the future returns of any investments. If the currency in which the past performance is displayed differs from the currency of the country in which you reside, then you should be aware that due to exchange rate fluctuations the performance shown may increase or decrease if converted into your local currency. Robeco Institutional Asset Management B.V. (“Robeco”) expressly prohibits any redistribution of the Information without the prior written consent of Robeco. The Information is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use is contrary to law, rule or regulation. Certain information contained in the Information includes calculations or figures that have been prepared internally and have not been audited or verified by a third party. Use of different methods for preparing, calculating or presenting information may lead to different results. Robeco Institutional Asset Management UK Limited (“RIAM UK”) is authorised and regulated by the Financial Conduct Authority. RIAM UK, 30 Fenchurch Street, Part Level 8, London EC3M 3BD (FCA Reference No:1007814). The company is registered in England and Wales under Ref No. 15362605.

In all cases where historical performance is presented, please note that past performance is not a reliable indicator of future results and should not be relied upon as the basis for making an investment decision. Investors may not get back the amount originally invested. Neither Robeco Institutional Asset Management B.V. nor any of its affiliates guarantees the performance or the future returns of any investments. If the currency in which the past performance is displayed differs from the currency of the country in which you reside, then you should be aware that due to exchange rate fluctuations the performance shown may increase or decrease if converted into your local currency. Robeco Institutional Asset Management B.V. (“Robeco”) expressly prohibits any redistribution of the Information without the prior written consent of Robeco. The Information is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use is contrary to law, rule or regulation. Certain information contained in the Information includes calculations or figures that have been prepared internally and have not been audited or verified by a third party. Use of different methods for preparing, calculating or presenting information may lead to different results. Robeco Institutional Asset Management B.V. is authorised as a manager of UCITS and AIFs by the Netherlands Authority for the Financial Markets and subject to limited regulation in the UK by the Financial Conduct Authority. Details about the extent of our regulation by the Financial Conduct Authority are available from us on request.