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Chapter 11: Fixed Income Strategies for Portfolios

In this section

  • Core, Core-Plus, and Liability-Driven Strategies
    Explore core fixed income portfolios, their extension into core-plus strategies, and the fundamentals of liability-driven investing (LDI) for robust interest rate risk management.
  • Duration Targeting and Yield Curve Positioning
    Comprehensive coverage of how fixed-income portfolio managers set duration targets and position along the yield curve, featuring strategies such as bullet and barbell, key rate duration analysis, and practical examples.
  • Credit Strategies and Sector Rotation
    Explore how credit analysis and sector rotation shape fixed income portfolios, focusing on credit spreads, default risk, and macroeconomic influences on different bond sectors.
  • Fixed Income Benchmark Selection and Construction
    An in-depth exploration of how to choose or build appropriate fixed income benchmarks, covering the role of benchmark characteristics, risk factors, custom index construction, and performance alignment for effective portfolio management.
  • Risk Monitoring in Fixed Income Portfolios
    Explore the core risks in fixed income portfolios and discover quantitative and qualitative tools for effective monitoring and stress testing.
  • Immunization Strategies for Fixed Income Portfolios
    Learn how to safeguard fixed income portfolios against interest rate movements by matching asset duration with liability duration, examining single- and multi-period immunization, and exploring cash flow matching approaches.
  • Bond Laddering and Barbelling
    Explore bond laddering and barbell strategies, focusing on how to manage interest rate and reinvestment risks using staggered maturities and short–long maturity concentrations.
  • Managing Inflation Risk with TIPS
    Explore the mechanics, benefits, and portfolio applications of Treasury Inflation-Protected Securities (TIPS) to mitigate inflation risk, with insights into break-even rates, real yield, and tax implications.
  • High Yield vs. Investment Grade Approaches
    Explore key distinctions between high-yield and investment-grade bond strategies, including risk-return trade-offs, default risk analysis, liquidity considerations, and practical portfolio insights.
  • Factor Analysis in Fixed Income
    A comprehensive exploration of key return drivers in fixed income portfolios, including duration, credit, liquidity, and sector factors, showcasing how to apply factor risk models for enhanced portfolio management.
  • Using Derivatives in Fixed Income Management
    Learn how fixed income managers use interest rate swaps, bond futures, CDS, and other derivatives to dynamically shape portfolio duration, credit exposure, and risk-return profiles.
  • Global and Emerging Markets Bond Strategies
    Explore the distinct opportunities, risks, and portfolio applications of global and emerging markets bonds, including currency considerations, sovereign credit analysis, and risk-reward trade-offs.
  • Floating Rate Instruments and Spread Management
    Explore the mechanics of floating rate notes, their role in reducing interest rate risk, and strategies for managing credit and liquidity spreads to optimize portfolio performance.
  • Quantitative Approaches for Fixed Income Security Selection
    Explore how quantitative models, from simple regressions to complex AI, help identify mispriced bonds and optimize fixed income portfolios.
  • Communication and Portfolio Reporting for Fixed Income Clients
    Discover how to communicate effectively with fixed income clients, handle performance reporting, manage interest rate outlook, and illustrate stress test results in client-friendly language.
  • ESG Integration in Fixed Income Strategies
    Explore how ESG factors are woven into bond selection, credit analysis, and issuer engagement, incorporating frameworks like the ICMA Green Bond Principles and addressing challenges such as greenwashing.
Thursday, April 10, 2025 Monday, January 1, 1

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