‘Fed Up’ is a 2014 documentary about the food industry and how ‘Big Sugar’ (amongst others) are responsible for the ill health of everyday Americans. Today’s reference of course is to the US Federal Reserve and central banks globally, where distinct parallels exist given their constant sweetening (through low rates/QE) of markets and where any sign of a tantrum (heightened volatility/drawdown) is met with more ‘sugar’ – larger policy responses to each new crisis. This has created a generation of ‘financial consumers’ gorging on cheap debt. Yet promises that the feasting can continue into perpetuity, simply cannot be kept. Fixed income investors face a particularly challenging time, as uncertainty over global economic recovery and monetary policy entwine. In our latest thought piece we discuss how we're positioned for this period of continued uncertainty.
Kapstream Portfolio Manager, Daniel Siluk sits down with the AFR to discuss the government’s deficit financing task, his time in the US working alongside Bill Gross and the risks posed by the US election.
Recently retired co-founder Kumar Palghat made his money as a star fund manager, first at PIMCO and then at Kapstream. Nearly a year after announcing his retirement, he’s turning his investment prowess towards managing his family’s money.
For the third consecutive year Kapstream Capital is delighted to be awarded Australian Credit Fund Manager of the Year in the annual KangaNews Awards. The award is based on the votes of market participants through a thorough and intensive polling of those involved in the Australian and New Zealand debt markets.
Kapstream became one of the first to launch an active fixed income ETF on the 15th October 2019. Listed as ‘XKAP’ and forming part of the ActiveX ETF range offered by partners Fidante, it makes the flagship ‘Kapstream Absolute Return Income Fund’ available for the first time within a listed vehicle. A short video featuring senior portfolio manager Dan Siluk introducing the ETF can be viewed by clicking on the title link above, and the associated media release can be viewed here. For more detail about the listed ActiveX Kapstream Absolute Return Income Fund (Managed Fund), please click here.
In collaboration with Fidante (as Responsible Entity), Kapstream recently completed a review of the fees charged to retail investors in the Kapstream Absolute Return Income Fund, determining to reduce the fee from 0.70% to 0.55% with effect from 1st October 2019. The formal disclosure notice can be found here, with a short article also appearing in the Financial Standard here.
Kapstream is honoured to be voted Australian Credit Fund Manager of the Year by KangaNews, for the second year running. The award is based on the votes of market participants through a thorough and intensive polling of those involved in the Australian and New Zealand debt markets. “To be recognised by industry peers, investors and partners in credit markets for a second year running is a great privilege and acknowledges our framework of active management through credit macro positioning, relative value trading and fundamental analysis”.
Kapstream Capital welcomed a new credit analyst this week and announced internal promotions for three of its investment team members.
Kapstream is honoured to be voted Australian Credit Fund Manager of the Year by KangaNews, which since their inception in 2007 remain entirely based on the votes of market participants through a thorough and intensive polling of those involved in the Australian and New Zealand debt markets. “As one of the most active fixed income managers in Australia, Kapstream has earned its place as one of the most reputable participants in domestic credit markets, and to be recognised for this by our industry peers and partners is a great privilege”.
Kumar Palghat outlines the key themes and decisions investors face in thinking about fixed income portfolios.
In celebration of the successful November 2016 launch of the Janus Henderson Short Duration Income ETF (NYSE: VNLA, managed under the Kapstream/Janus Henderson Global Macro Fixed Income flagship ‘cash plus 2-3%’ strategy), Nick Maroutsos and Dan Siluk were invited to ring the opening bell at the NYSE on Tuesday 10th October.
, Kapstream 2016 Adviser Roadshow
Kumar Palghat discusses the mindset of the Kapstream team in constructing the portfolio.
Steve Goldman and James Bloom from Kapstream penned an article for Switzer around the long term effects of prolonged low interest rates. Click on the link to find out more.