Insight High Grade ABS

An asset backed securities (ABS) strategy focused on higher-rated paper in the European market.

The fund focuses on higher rated paper (AAA / AA) and is biased toward more liquid end of the market, in RMBS and CLOs. As ABS are floating rate securities, they would benefit from a pick-up in inflation over the near term, and although they have credit risk, ABS spreads are more sensitive to the health of the consumer compared to the economy as a whole.

Although there is very little fundamental risk of default, ABS have basis risk and are priced with a complexity premium, which results in yields which are considerably above AAA corporates.

We like this fund for the strong defensive characteristics and significant diversification at the loan-level, in addition to the large and well-experienced team.

Fund type Offshore FCA
Asset class Bonds
Sector Short Dated
Managed by Shaheer Guirguis
Held in EQ Portfolios

Manager Profile

Shaheer is the head of secured finance at BNYM Investment Management where he has overall responsibility for lending in the structured credit and secured finance markets, managing several mutual funds and managed accounts.

Shaheer began his career at the Gulf International Bank in 2000, and was appointed fixed income portfolio manager in 2007. He holds a BSc in Economics and an MSc in Finance and is a CFA charterholder.

Fund performance

BNY Mellon Investment Management

BNY Mellon Investment Management is one of the world's largest multi-firm investment managers, encompassing 10 diversified investment firms. Each of these firms benefits from the combined scale of a full-service investment manager but with focused expertise as each individual firm has its own style, strategy and management team.