Stratégies
Solutions & Multi-Asset
Global Multi-Asset Income Strategy
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Global Multi-Asset Income Strategy |
Stratégies
Solutions & Multi-Asset
Global Multi-Asset Income Strategy
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Low current yields and the prospect of rising interest rates are challenging traditional methods used to meet income targets. By providing a nontraditional, diversified approach to income generation, our Global Multi-Asset Income Strategy represents an evolution in the search for income by expanding the typical investment universe, seeking to generate income through a strategic combination of core equity and fixed income securities, high yielding investments and an option-writing enhancement strategy. As a result, yield can be generated with less sensitivity to rising rates, helping answer today’s need for a balanced trade-off between risk, return, and attractive income.
Flexible, Tactical Approach to Income Generation |
The team invests tactically across a broad multi-asset universe, limiting exposure to overvalued assets or assets where the risk contribution outweighs the yield potential. |
Pursuing Income as Part of Total Return |
Combines an income-generating strategy with the GMA team's long-standing approach to global macro, thematic, multi-asset investing. |
Less Sensitivity to Rates |
Option strategy can offer investors potential for enhanced yield with less sensitivity to changes in rates. |
The Global Multi Asset Income Strategy builds upon the existing investment approach used in our Global Tactical Asset Allocation and Absolute Return Strategies. The Strategy offers yield-seeking investors access to an investment approach focusing on opportunities arising from macroeconomic changes and structural transformations that have not yet been discounted in valuations. The team’s investment process seeks to identify attractive risk/reward opportunities based on three primary criteria: valuation, fundamental dynamics, and sentiment. The team believes that these three tools are most powerful when used in combination. The team invests in opportunities at the asset class, country, sector and thematic levels, rather than concentrating on individual security selection.
In contrast to traditional methods used to meet income targets, our flexible, tactical approach to generating yields across a broad multi-asset universe allows portfolios to generate income while also pursuing total returns. We aim to generate approximately one third of the Strategy’s income from core holdings in equity and fixed income securities, one third from high yielding investments such as high yield bonds, emerging market debt, REITs and infrastructure equities, and one third from an option writing overlay which enhances yield primarily through writing covered call options.
The description of the call option strategy should not be considered a solicitation for options, but rather a description of the fund’s investment process. See Risk Considerations for risks of option strategy.
The weights and the number of holdings represent typical ranges and are not a maximum number. The portfolio may exceed this from time to time due to market conditions and outstanding trades.
This information represents how the investment team generally applies its investment process under normal market conditions. The team implements positions either directly by purchasing securities or through the use of derivatives.