Active Fixed Income and Credit Management

Book Description
The authors provide the reader with an extensive tool set for active and successful management of fixed income portfolios as well as for credits. The focus of discussion is on quantitative and, for credits, qualitative methods of portfolio management. These strategies may be employed for portfolio diversification and in order to outperform the benchmark. Methods applicable for different risk factors - duration, yield curve, basis, volatility and credit management - are illustrated in detail using a top-down and bottom-up approach.



About the Author
Frank Hagenstein is Head of Credit Fund Management, Union-Investment, Germany. Timothy Bangemann is a Government Bond Trader, UBS Warburg, London.



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"Good bond portfolio management is not just focused on one question - maturity/duration - and not just based on qualitative analysis. Smart portfolio managers spend most of their time on spread trades and often hedge away market directional risk. Moreover decisions are increasingly quantitatively based." Active Fixed Income and Credit Management covers key trades and tools for their analysis. The book also recognizes the growing significance of derivative contracts and credit diversification to bond investors.


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