The last quarter of 2016 was without doubt eventful. Trump won the race to become the next president of the USA, that itself was not a surprise given the close odds for quite some time, but what most investors did not expect was the market reaction to his win.
In short the outcome was good for risk assets and bad for rates. As a result high yield had strong returns in the quarter and negative performance for investment grade and emerging markets. It was a very good quarter for our investors as almost all of our funds outperformed their benchmarks, especially in investment grade and emerging markets we outperformed nicely.
Read the Quarterly report - Click here