Sep 2019

High Yield Roundtable

Allianz Global Investors, 199 Bishopsgate, London EC2M 3TY

A broad and compelling opportunity set

A mere few years ago, at the end of 2016, one may have felt that they had seen it all in respect to world affairs; Miss Universe owner, Donald Trump was voted the 45th President of the United States of America, Brexit was passed with a 51.9% ‘leave’ bias and some of the world’s most iconic musical legends passed away including Prince, Bowie and George Michael. Three years on and the ripples of these metaphorical cannonballs can still be felt in varying degrees. 

This Roundtable will explore if and how the aforementioned events have affected our famously defensive friends, the High Yield Funds. Commonly, and definitely currently, high yield bond funds and the stock market make ‘influential friends’; guiding and encouraging, for better or worse, the other. Therefore, with the 2016 tsunami very much still raging and the consequential economic uncertainty in which we are currently investing; it’s a particularly ‘reactive’ time for High Yield funds.

Today, the High Yield universe is as varied as it is large, yet bond yields have plummeted to an all-time low. Investors are still seeking those dizzy heights of the High Yield heydays but are they still out there, are they liquid enough to survive another ‘shock’ and how agile have they been these past years? What will this high yield landscape look like in 2022? The CAMRADATA High Yield Roundtable, we seek to find out.

Allianz Global Investors, 199 Bishopsgate, London EC2M 3TY