Sentiment deteriorated in August, despite a strong start to the month. Spreads on EUR IG credit widened by 15 basis points (bps) to around 200 bps, edging closer to year-to-date wides of around 220 bps.
Sentiment improved significantly in July, with the second half of 2022 starting on a strong footing. Spreads on EUR investment grade (IG) corporates tightened by around 30 bps over the month to around 190 bps, reversing a quarter of the first half’s widening.
Negative sentiment was persistent during June. Spreads on EUR investment grade (IG) corporates widened by a further 56 bps during the month – bringing total widening to 120 bps since the beginning of the year, with EUR IG spreads now sitting close to 220 bps.
| serie | AsOFDateFK | FundName | ISIN | MTD | MTD | YTD | YTD | SI | SI |
|---|---|---|---|---|---|---|---|---|---|
| 1 | 20,251,107 | GAM Sustainable Climate Bond fund | IE000BSJBO14 | -0.28 | -0.0028 | 0.0340 | 3.40 | 0.0185 | 1.85 |
| 2 | 20,251,107 | GAM Star Crdt Ops EUR Inv | IE00B50JD354 | -0.24 | -0.0024 | 0.0393 | 3.93 | 0.7311 | 73.11 |
| 3 | 20,251,107 | GAM Star Crdt Ops GBP Inv | IE00B510J173 | -0.13 | -0.0013 | 0.0568 | 5.68 | 1.0538 | 105.38 |
| 4 | 20,251,107 | GAM Star Crdt Ops USD Inv | IE00B5769310 | -0.01 | -0.0001 | 0.0668 | 6.68 | 0.9758 | 97.58 |
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