Key features
A global portfolio primarily of inflation-linked bonds
Managed by an experienced team dedicated to government bond strategies
ESG1 factors integrated within the investment process
Investment philosophy
We believe inflation-linked bond markets exhibit inefficiencies that can be repeatedly exploited by specialist portfolio managers.
Our systematic investment process focuses on careful analysis of the fundamental drivers of asset prices – notably macroeconomic developments, market microstructure considerations, and relative value relationships. This allows us to identify investment opportunities to build a diversified set of exposures that could generate consistent excess returns with limited overall volatility.
Investment process
Our Inflation-Linked Bond Strategy follows a four-step process:
- Research framework
- Idea generation
- Strategy selection
- Portfolio construction
Team and resources
Our Global Sovereigns, Inflation and Rates team is based in Paris and New York. Cedric Scholtes, who has over 23 years of industry experience, leads the team.
Team members have years of expertise in sovereign and inflation-linked bond portfolio management, as well as extensive market experience including market making and tenures at the Federal Reserve and the Bank of England.
The team also benefits from access to our global trading and risk management platform, Sustainability Centre, Quantitative Research Group, and Macro Research team.
This strategy is managed from the BNP Paribas Asset Management USA, Inc. entity.
[1] ESG = Environmental, Social and Governance. ESG assessments are based on BNP Paribas Asset Management’s proprietary methodology which integrates all three aspects of E, S & G.