Bond selection

The fixed-income team of Kapitalanlageaktiengesellschaft manages bond funds composed of different individual securities as well as funds of funds. In bond management, expertise is focused on the segment of European investment-grade bonds. The region of Central and Eastern Europe is covered by proprietary fund solutions. Portfolio management is based on the projected development of interest rates and credit ratings.
This assessment is reflected in the funds mainly by the selection of issuers and the tactical rotation of the different bond segments. The approach pursued by Gutmann Kapitalanlageaktiengesellschaft seeks to keep turnover low by anticipating developments while nonetheless exploiting opportunities and keeping portfolios diversified. In the funds of funds segment, proprietary and outside bond funds are combined in such a way that they cover a wide segment of a client portfolio efficiently and effectively. All segments of the fixed-income universe are taken into consideration.