Leveraged Finance Global High Yield

Investment Objective

 The investment objective of PGIM Fixed Income's Global High Yield Strategy is to outperform the Bloomberg Barclays Global High Yield Index or a similar index by +125 bps.

Available Vehicles

Available Vehicles

Separate Account

Investment Philosophy

The Global High Yield Strategy places an emphasis on high yield opportunities around the world, in multiple countries and currencies.

Investment Process

PGIM Fixed Income employs a disciplined, three-step investment process to manage Global High Yield Portfolios:

  1. Leverage firm resources to define the current global backdrop and risk appetite

  2. Security selection, portfolio construction, risk budgeting

    Macroeconomic & Fundamental Research

    Market strategists provide continual macroeconomic assessment

    Research team evaluates all issuers in the universe. Focus on downside protection:

    • Asset Quality
    • Capital Structure
    • Covenants
    Arrow Right

    Relative Value Analysis

    Portfolio managers evaluate and maximize relative value among approved universe:

    • Choose regions & select countries that reflect macro perspective
    • Choose fundamentally strong credits with best relative value
    Arrow Right

    Portfolio Construction

    Credit Analysts, portfolio managers, and risk managers provide continuous oversite:

    • Actively monitor all credits
    • Closely monitor industry and issuer exposures
  3. A rigorous process is employed to monitor risk at all levels

Senior Portfolio Managers

 

Robert Cignarella

CFA, Head of Leveraged Finance

 

Jonathan Butler

Head of European Leveraged Finance