FIIG - The Fixed Income Experts

Investment Strategy

Exclusive news and research content for FIIG clients.

  • New issue premium - it pays to participate in primary

    Apr 23, 2021
    On average an investor is paid a premium for participating in new issues, making it more attractive to purchase in the primary market or soon after. In this note we highlight the opportunity and how investors can achieve better returns as a result.
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  • Portfolio strategies for the year ahead

    Mar 03, 2021
    As markets adjust to the new norm of unconventional policy measures, we discuss trading implications and how best to position portfolios
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  • Actively manage upcoming maturities to increase returns

    Jan 27, 2021
    As several bonds approach maturity or call dates over the coming year, many investors could be exposing themselves to reinvestment risk and receiving lower returns by not reinvesting ahead of time.
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  • Lendlease joins list of ethical bond issuers

    Oct 29, 2020
    Lendlease’s recently issued 2027 bond, the largest green bond issued by an Australian non-financial corporate, has been strongly bid for in both primary and secondary markets.
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  • Downer’s April 2026 senior unsecured bond available for retail investors

    Oct 01, 2020
    The ASX listed Downer’s longer dated fixed coupon bond is the newest addition to the retail product offering.
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  • Year to date bond issuance

    Aug 10, 2020
    After somewhat of a slow start to the year, bond issuance has gathered momentum. While this has been mainly led by governments and financial institutions issuance, good quality corporate issuers are also taking advantage of the market conditions to lock in funding and shore up capital.
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  • Worried about yields going up on long fixed rate bonds? Don’t be…

    Aug 04, 2020
    The current environment has seen some large, stable corporates issue long dated bonds at low interest rates compared to recent history.
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  • USD bonds YTD performance

    Jun 26, 2020
    Credit spreads have tightened materially since the dislocation experienced in March this year, however prices have not fully recovered, providing an investment opportunity in the USD space.
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  • New DirectBond - BP Capital 2025c and 2030c corporate hybrids

    Jun 26, 2020
    The newest additions to FIIG’s USD DirectBond list are two investment grade (IG) rated corporate hybrids issued by BP Capital. These newly issued securities offer strong relative value.
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  • Hope is not a strategy

    Jun 01, 2020
    The recent risk market rally reflects hope for a sharp recovery as economies slowly reopen. However, bond markets are once again diverging from equities and predicting a different future.
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  • The dividend tide goes out

    Apr 30, 2020
    Investors are having to adjust to the riskier nature of equity investing as more and more companies reduce, cancel or defer dividends. Those with a truly diversified portfolio should however be cushioned from this loss in income, thanks to the regular cashflow from a low risk bond portfolio.
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  • The importance of portfolio diversification

    Apr 15, 2020
    The coronavirus induced volatility has really brought the importance of portfolio diversification to the forefront of investors’ minds. Now is the perfect time to assess both the make-up of your portfolio and risk exposure within the portfolio.
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  • RMBS market update

    Apr 09, 2020
    Like the broader corporate bond market, RMBS is also responding to market uncertainty. Structural support features and government assistance for borrowers will provide short-term support for the asset class.
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  • Investment grade bonds attracting attention

    Apr 01, 2020
    The primary bond market is showing signs of recovery, mainly in investment grade bond issuance as non-traditional investors move to relative safety of fixed income over equities.
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  • Bank bonds – an opportunity to increase IG exposure

    Mar 20, 2020
    The RBA’s QE announcement yesterday focused on ensuring flow of credit to businesses and households via ADIs. We think the lowering of funding cost for banks is a net positive for the institutions in the current challenging operating environment.
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  • Coronavirus and oil shock – impacts and strategy

    Mar 13, 2020
    The coronavirus, followed by the nascent oil price war, has been the largest shock that the most expensive equity markets since the Great Depression and lowest yielding bond markets in history has received.
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  • QTC - Time to re-visit investment grade opportunities

    Mar 13, 2020
    During this time of dislocation, investors are seeking more safety and capital preservation. As we have noted in the past, while higher risk does offer higher returns, it is important to maintain adequate portfolio quality and diversity.
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  • What to do about low cash yields?

    Mar 02, 2020
    Whilst cash offers security. the current low rates mean many investors can no longer accept this asset as a core portfolio holding. We examine an option with similarly high levels of security but improved yields.
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  • New Issue Alert – Avanti Finance Limited Senior Secured Bond

    Feb 27, 2020
    Avanti is a well-established New Zealand finance company with a number of subsidiaries that focuses on four distinct sectors: residential mortgages, motor vehicle finance, consumer finance, and business (“SME“) lending. Avanti has been lending to New Zealanders since 1991.
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  • New DirectBond – Greenko

    Feb 20, 2020
    Founded in 2004, Greenko Group (Greenko) develops and operates clean energy projects across 15 states in India, including solar, wind, hydropower, natural gas, and biomass assets.
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