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15/12/2016

Credit Tour

CREDIT TOUR 2017The search for yield in 2017: exploring the case for credit We believe that in 2017 the ECB will continue to play quite a role in sustaining the asset class. Our models show that the average spreads of IG non-financial bonds eligible for the CSPP became tight compared to their fair values. On the other side of the Atlantic, the expected rebound in US growth triggered by Trump election is positive for US credit. The fundamental of US companies should remain stable and default rates trending down from the current “mini cycle” peaks. At the same time the leverage cycle is clearly ahead of the European one. At Amundi, we have again confidence in Credit cycle for 2017.The global credit allocation is continuously rebalanced between geographic zonesWe are delighted to invite you to come and participate to a high quality debate with our senior portfolio managers. They will be happy to share their views and the positioning of Credit in the current economic cyclesOur speakersMr Kenneth J. MonaghanHead of Global High Yield at Amundi Smith Breeden - Portfolio Manager of Amundi Funds Bond Global High YieldKenneth J. Monaghan is Managing Director and Head of Global High Yield.  Prior to joining Amundi Smith Breeden in 2014, Mr. Monaghan was at Rogge Global Partners where he was Partner and Portfolio Manager responsible for US High Yield and was an integral part of Rogge’s Global High Yield strategy; he also ran Rogge's New York office.  He co-founded the strategy in 1996 at a predecessor organization to ING and was co-portfolio manager of the strategy from its inception . Prior to becoming a portfolio manager, Mr. Monaghan spent 13 years at Salomon Brothers starting as a high yield analyst eventually heading Salomon's high yield research effort in New York Mr. Monaghan is a graduate of Colgate University and holds both a Master of Business Administration (MBA) degree in Finance and a Master of Public Administration (MPA) degree from New York University.Mr Gregoire Pesques, CFAHead of Global Credit at Amundi - Portfolio Manager of Amundi Funds Bond global corporate and Amundi Multi-Asset Credit StrategyGrégoire Pesquès is Head of Global Credit for Amundi London. Prior to joining Amundi London in 2011, he was Deputy Head of Credit Management and Head of US Credit of Amundi. Grégoire joined SGAM (now Amundi Group) in 1998 as a Credit Fund Manager, mostly dedicated to High Yield and Investment Grade. He was then appointed Head of the Credit and Convertibles Team (IG and HY) in October 2005.  Gregoire began his career in 1994 as a Fixed Income portfolio manager at Banque Transatlantique where he launched and managed one of the first High Yield funds in Europe. Grégoire graduated in Finance and holds a post-graduate degree in Finance and Banking from the University of Paris I Sorbonne. Grégoire is a CFA Charterholder.Research paperCorporate bond markets in 2017 and beyond  - Growth versus technical factorsWelcome to an amazing year 2017Linked ProductsPitchbookAmundi Funds Bonds Global High yieldAmundi Global High yieldAmundi Funds Global CorporateAmundi Global Corporate I want to attend