What’s driving credit markets? Driven by the continued level of uncertainty of the COVID-19 pandemic, global financial markets have been highly volatile and while more recently have become calmer, remain in a state of flux. Prospects for a vaccine coming to market sooner than expected and lockdowns ending, versus increasing contagion rates, rising deaths and risks of a second wave of infection, seem to be the main driver of financial market direction. While credit markets haven’t been immune, on the whole they have displayed more stability than equities. Credit spreads have generally moved wider and liquidity has been challenged, in some countries more than others.
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”, said Raymond Lee, Managing Director and Head of Credit at Kapstream.”
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”, said Raymond Lee, Head of Credit and Senior Portfolio Manager at Kapstream.
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.
, Kapstream 2016 Adviser Roadshow
Raymond Lee, Head of Credit and Portfolio Manager at Kapstream Capital, discusses the team’s view on credit and how it feeds into current portfolio positioning.
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.