Episode 29 – Fixed Income – 13 Steps to Investing in Fixed Income
November 21, 2019

Episode 29 – Fixed Income – 13 Steps to Investing in Fixed Income

Sarah Wildman is joined by Geoff Castle and Parul Garg to discuss their thirteen-step decision-making checklist for analysing securities.

Subtitle: How to be a value investor in corporate credit

Sarah Wildman is joined by Geoff Castle and Parul Garg, Portfolio Manager and Associate Portfolio Manager of the Pender Corporate Bond Fund. They discuss their thirteen-step decision-making checklist for analysing securities for inclusion in the portfolio.

Key Takeaways

[01:15] Sarah asks Geoff how the fixed income team came up with a thirteen-check process.
[02:37] Geoff explains “understandability” when it comes to assessing opportunities from different industry sectors.
[04:15] Geoff talks about what makes a security interesting enough to pursue to the next level.
[05:05] Parul provides an example of a company in the portfolio with strong growth prospects.
[08:12] Sarah asks what factors Geoff and Parul use to assess risk.
[12:59] They also talk about the financial considerations that are taken into account with each prospective holding.
[16:54] Geoff explains the final three checks used to assess the addition of a security to the Fund, including the path to realizing value.
[19:21] Parul shares an example of a company in the Fund that is also held by our equity team.
[20:33] Sarah asks Geoff and Parul which books are currently on their reading list.

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