Key Findings

• Three of the 47 strategies we assessed achieved the highest-possible Morningstar Analyst RatingTM of Gold – PIMCO Australian Bond, PIMCO Diversified Fixed Interest, and PIMCO Global Bond. We designated seven offerings Silver and 12 Bronze, and initiated coverage of four new strategies.
• Fixed interest funds are often treated as though they all have the same income generation and defensive properties. In reality, bond funds come in many different flavours. Each can potentially play a distinct and important role in an investment portfolio.
• Absolute return fixed income funds have been catching headlines and attention. It would be easy to dismiss these as the latest investment fad, but some actually have merit if used in the right way. The investor’s time horizon plays a big role in determining how useful these funds can be.
• Persistently low interest rates on global government bonds have wreaked havoc on many fund managers and their investment strategies, because execution in such an environment requires an especially delicate balance of risks. Fund managers have pursued a variety of strategies to cope, revealing distinct things about their styles and how their funds should be used.
• Fees have an especially big impact on fund performance in the fixed interest sector because the range of returns targeted and offered by fixed interest funds is relatively small. Fees can therefore take a big bite out of what the investor pockets, making fee assessment an especially important consideration in fund evaluation and selection.

A large number of Australian fixed interest fund managers cluster around the index while charging a premium, presenting a compelling case on cost grounds for using a passive option for Australian fixed interest exposure.

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Australian Institutional Specialist Hired to Head Sydney Office

The Sydney office will be managed by Australian Ian Webber, Director, Institutional Investments (Australia & New Zealand), who joined Artio Global in June of 2011. Mr. Webber has extensive experience providing investment solutions to institutions, most recently as Co-Head of Australia/Head of Sales and Marketing for AXA Rosenberg Investment Management. He also served as Director, Institutional Business for Salomon Smith Barney/Citigroup Asset Management. He holds a Graduate Diploma in Applied Finance and Investment from the Securities Institute of Australia and a Bachelor of Economics from the University of Newcastle.
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Tony Williams, Chief Operating Officer of Artio Global said, “We believe that we offer a well-differentiated and compelling perspective on global investing that will resonate with Australian investors. Ian’s background and experience working with local institutions provides a strong base for us to make inroads into this important market.”
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Artio has offices in New York, Los Angeles, Toronto and London. The Sydney office will be part of the firm’s strategy to increase its distribution into Asia. “We have been looking to expand our global network and Australia, with its appetite for a variety of strategies and large pool of superannuation capital is a logical early opportunity,” concluded Mr. Pell.

For more information, please visit www.artioglobal.com.

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