Specialist in Asia Pacific, Japan, China, India and South East Asia and Global Emerging Market equities.

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At Stewart Investors, we believe in putting people first. Our investment world-view is of a series of partnerships – with each other, with our clients, with the companies we invest in, the people who buy their goods and services, and with the wider society in which we all live and work.

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Leader in systematic equities across market cap weighted indices, smart beta and active quantitative strategies

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Global Credit

Prices & performance
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Strategy Overview

Key Facts

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* This is an annualised interest rate from the past seven days. For actual performance for our Cash Funds, please view the performance page.

Performance returns are calculated net of management fees and transaction costs. Performance returns for periods greater than one year are annualised. Past performance is not a reliable indicator of future performance.

We go beyond the limits of most credit analysis

Our global credit income strategy provides investors with higher yields than those on offer from cash and government bonds and diversification to complement equity exposures. We go the extra mile to navigate risks and opportunities in global markets. Ky Van Tang, Credit Research Co-lead, explains why our team of credit research analysts scrutinise ESG risks the hardest.

Why invest with us in global credit?

We offer a range of actively managed strategies, as well as solutions for clients favouring a ‘buy and maintain’ approach. All utilise a proven investment process, incorporating disciplined in-house credit analysis and aiming to exploit relative value opportunities in global markets. We also have a proven ability to tailor bespoke, segregated mandates according to client requirements and have the local expertise to manage specialised regional portfolios. 

  • A proven and differentiated investment philosophy: Since credit market returns are asymmetric, we focus on ‘avoiding the losers’ through rigorous credit analysis, combined with sophisticated portfolio construction focused on diversification. 

  • Consistent long-term performance track record: Favourable risk-adjusted returns generated over 3-5 year time horizons.

  • Multi-dimensional credit research: Credit research focuses on assessing credit risk and identifying deteriorating issuers. Our analysis considers a variety of risk dimensions, enabling significant breadth.

  • Best-in-class Environmental, Social and Governance (ESG) integration: We have a vigorous Environmental, Social and Governance (ESG) process that is built in at both the company and product level. More importantly, ESG risk factors are an important consideration in the assignment of credit ratings on individual issuers.

“We’re looking to construct well-diversified portfolios of global corporate bonds that can provide steady income over the full credit cycle.”

Tony Togher

Head of Short Term Investments and Global Credit

We’re obsessive about risk management

In our view, investing in credit is as much about risk management as it is about return management. Credit market returns are asymmetric; there is typically limited upside potential and risks are concentrated on the downside. We are value-based investors with an unrelenting focus on risk management. By completing thorough credit research, we aim to identify deteriorating issuers. Environmental, social, and governance (ESG) assessments form a critical component of the research process. 

In security selection and portfolio construction, we aim to combine the most compelling risk-adjusted opportunities into well diversified portfolios.

  • Our focus is on issuers where risks are evolving, as changes can influence performance outcomes over time. 
  • We have best-in-class ESG research capabilities and our responsible investment (RI) processes are highly rated by global consultants. 
  • Specialist analysts share information around the globe to support a global suite of credit products.
  • Internal Credit Ratings directly influence portfolio construction decisions, underlining the importance of disciplined research. 

Responsible Investment

Our corporate RI strategy is based upon three strategic pillars of quality, stewardship and engagement.

For Global Credit, the Environmental, Social and Governance (ESG) assessment most often comes through its impact on the internal credit rating (ICR) provided by the Credit Analysts via our Credit Research process.

Learn more about the Global Credit team's approach to Responsible Investment

“ESG issues have a direct impact on an issuer's risk and therefore its probability of default. If a company manages ESG risks poorly, we don’t have confidence that other risks are being well managed.”

Ky Van Tang

Co-Head of Credit Research

“Our credit analysts are tasked with monitoring the credit risk profile of individual borrowers. The aim is to remove deteriorating issuers from portfolios before default risk starts to affect valuations.”

Mike Arnold

Co-Head of Credit Research

Meet the investment team

Tony Togher

Head of Fixed Income, Short Term Investments and Global Credit

Ky Van Tang

Co-Lead, Credit Research

Mike Arnold

Co-Lead, Credit Research

Andrew Woerner

Senior Credit Analyst

Want to know more?

Contact your Key Account Manager