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For Institutional Investors in Australia

Australian Fixed Interest

A fundamentally driven approach seeking to take advantage of situations where market pricing has become misaligned with economic and investment fundamentals


About this strategy

As a diversified portfolio of government, semi-government, corporate and asset backed securities, this strategy aims to be a good diversifier against the equity or growth exposure of an investor’s portfolio. In managing the strategy, the Manager applies a range of strategies that include duration and yield curve management, sector allocation and individual security selection.

The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Past Performance is not a guide to future performance. No investment strategy, including a protection strategy, can ensure a profit or eliminate the risk of loss.

Investment Approach

Fundamentally driven approach
The Team’s investment approach is fundamentally driven and seeks to take advantage of situations where market pricing has become misaligned with economic and investment fundamentals.

Exploiting inefficiencies
The Team believes that investment markets are at times, influenced by non-fundamental factors that cause prices to periodically overshoot their fair value levels. For Australian fixed interest portfolios, the biggest inefficiency that the Team seeks to exploit is the disproportionate impact that short term factors have on the valuation of long-term securities.

Actively managed portfolio
The Team seeks to add value relative to market benchmarks by identifying these situations and constructing portfolios to capture value as these mispricings unwind. In Australian ¬fixed interest, this can occur in the absolute level of interest rates, the shape of the yield curve, the relative value between sectors or the pricing of individual securities.


Jay Sivapalan, CFA

Head of Australian Fixed Interest | Portfolio Manager

Industry since 1998. Joined Firm in 2015.