AD Global Investors offers a range of focused and well-defined actively managed investment products. Our products are available to institutional investors through fund structures and separately managed accounts. Read more about each of our products below.
+ EMERGING MARKET DEBT LOCAL CURRENCY
This strategy invests mainly in bonds denominated in local currencies issued by corporations and governments in emerging market countries and their currencies. This is an actively managed strategy based on the philosophy that debt securities that possess fundamental value usually have high prospective real yields. Additionally, currencies that are undervalued according to real effective exchange rate analysis typically possess fundamental investment value. Financial analysis on countries and individual issues to assess the issuer’s vulnerabilities is performed, including ESG factors. The flagship benchmark for this strategy is the JP Morgan Global Bond Index – Emerging Markets Global Diversified unhedged in US dollars.
+ EMERGING MARKET DEBT HARD CURRENCY
This is an actively managed strategy investing primarily in hard currency (USD denominated) government, government-related and corporate bonds (and sukuk) issued globally. Both the yields of the underlying government bonds and the credit spreads are assessed: real yields, breakeven inflation rates and risk premia for underlying yields; required credit spreads are determined by looking at the long-term history of credit markets, to identify the lowest spread at which an investor should be willing to bear the fundamental credit risk; this valuation framework provides a transparent and independent assessment. Financial analysis of countries and issuers is performed. The strategy is managed with a total return objective with some regards to the JP Morgan Emerging Market Bond Index Global Diversified but can also be actively managed against a benchmark of the clients choosing.
+ MENA FIXED INCOME
This is an actively managed strategy investing primarily in hard currency (USD denominated) government, government-related and corporate bonds (and sukuk) issued in the MENA region. Both the yields of the underlying government bonds and the credit spreads are assessed: real yields, breakeven inflation rates and risk premia for underlying yields; required credit spreads are determined by looking at the long-term history of credit markets, to identify the lowest spread at which an investor should be willing to bear the fundamental credit risk; this valuation framework provides a transparent and independent assessment. Financial analysis of countries and issuers is performed. The strategy is managed with a total return objective with some regards to the JP Morgan Middle East Composite Index (MECI) but can also be actively managed against a benchmark of the clients choosing.
+ GLOBAL SUKUK
This is an actively managed strategy investing primarily in hard currency (USD denominated) government, government-related and corporate sukuk issued globally. Both the profit rates of the underlying sukuk and credit spreads are assessed: real profit rates, breakeven inflation and risk premia for underlying profit rates; required credit spreads are determined by looking at the long-term history of credit markets, to identify the lowest spread at which an investor should be willing to bear the fundamental credit risk; this valuation framework provides a transparent and independent assessment. Financial analysis of countries and issuers is performed. The strategy is managed with a total return objective with some regards to the Dow Jones Sukuk index but can also be actively managed against a benchmark of the clients choosing.