serie | AsOFDateFK | Fund Name | ISIN | MTD | YTD | SI | MTD | YTD | SI |
---|---|---|---|---|---|---|---|---|---|
1 | 20,240,910 | GAM Sustainable Climate Bond fund | IE000BSJBO14 | 0.0073 | 0.0434 | -0.0299 | 0.73 | 4.34 | -2.99 |
2 | 20,240,910 | GAM Star Crdt Ops EUR Inv | IE00B50JD354 | 0.0047 | 0.0938 | 0.6299 | 0.47 | 9.38 | 62.99 |
3 | 20,240,910 | GAM Star Crdt Ops GBP Inv | IE00B510J173 | 0.0055 | 0.0840 | 0.9127 | 0.55 | 8.40 | 91.27 |
4 | 20,240,910 | GAM Star Crdt Ops USD Inv | IE00B5769310 | 0.0058 | 0.0892 | 0.8366 | 0.58 | 8.92 | 83.66 |
5 | 20,240,910 | GAM Interest Trend Inc | IE00BYM4P913 | 0.0031 | 0.0856 | 0.3683 | 0.31 | 8.56 | 36.83 |
Monthly Commentary – February 2024 EUR
February was a relatively stable month for our securities, despite the increase in interest rates. Spreads on our securities tightened slightly during the month. The macroeconomic data has meant that market participants have been revising their assumptions on the number of rate cuts in 2024 downwards. However, the outlook remains constructive, i.e. a gradual disinflationary scenario combined with a soft or no landing. Spreads on subordinated debt of financials remain wide, especially on a relative basis. As such we believe that there is more upside in terms of capital appreciation, in addition to the high income we are receiving.Â