As a natural extension of our U.S. and European High Yield Bond strategies, Oaktree's Global High Yield Bond strategy targets the most attractive risk/return opportunities we identify across the developed world. The strategy seeks to achieve superior risk-adjusted returns by investing in the lower-rated yet creditworthy performing bonds of North American and European corporations. Our Global High Yield Bond portfolios are co-managed by Sheldon Stone and David Rosenberg, Oaktree's U.S. High Yield Bond co-portfolio managers, and James Turner, Oaktree’s European High Yield Bond portfolio manager, and benefit from a highly experienced research team.
"Our investment philosophy centers around employing a highly disciplined, credit-intensive research approach to construct a diversified, risk-controlled portfolio," says Mr. Stone. "We believe the avoidance of defaults is the most reliable source of superior performance."
Allocations between North America and Europe are based on an issue-by-issue relative value framework and market technicals. We do not select investments based on anticipated interest rate movements and resulting price fluctuations since we view these events as beyond our ability to predict with sufficient accuracy. In constructing our portfolios, we avoid concentrations by industry or company because, as we see it, thoughtful diversification is one of the most cost-effective means of mitigating the impact of credit problems.
Learn more about Oaktree's U.S. Mutual Funds and UCITS Funds.