![Lyndon Man](/content/dam/invesco/uk/en/bios/Lyndon-Man.jpg)
Fund Manager
Lyndon Man
MChem, BA (Hons), CFA
The global investment grade credit market offers an attractive combination of investment quality, size, liquidity and, most importantly, higher yields than government bonds.
We believe we can generate attractive risk-adjusted returns by targeting alpha through global thematic ideas. These are implemented within a robust, risk-disciplined framework with the intention of performing well in any market environment.
The strategy aims to generate an attractive total return by investing in investment grade corporate bonds. It pursues a theme-based approach designed to identify relative value opportunities in the corporate bond markets.
The portfolio managers take a theme-based approach to capturing value opportunities. We combine top-down analysis with a bottom-up approach to security selection.
The team is also responsible for leveraging the breadth of the Invesco Fixed Income platform to help form their investment opinion.
Macro themes are identified and then we construct the portfolio by selecting the most appropriate securities to represent the view.
At the same time, security selection aims to capture the highest risk-adjusted returns while remaining within the guidelines of the strategy.
We also have the ability to manage credit, interest rate and currency exposure separately (through derivatives).
The investment approach is centred around three core pillars:
Responsibility for portfolio management rests with the Invesco Fixed Income Global Investment Grade Corporate Bond Management team, reporting to Michael Hyman, Head of Global Investment Grade and Emerging Markets.
The team operates within the interconnected framework of Invesco Fixed Income’s investment platform with daily interaction taking place with investment colleagues globally.
The lead manager(s) of your portfolio would be Lyndon Man with Luke Greenwood, Matthew Henly and Michael Booth providing support, leveraging the resources of the entire Invesco Fixed Income.
This global platform support gives us the broad and scalable operation necessary to offer clients a credible value proposition.
Yields remain attractive and may maintain positive relative value
Significant focus on the uncertainty of the US macroeconomic backdrop and its potential implications on the market remain top of mind for investment opportunities. Against this cautious outlook, we asked the experts from Invesco’s bank loan, direct lending and distressed credit teams to share their views as the third quarter of 2024 wraps up.
Monthly fixed income update
Fixed income markets in July saw yields rally in response to weaker economic data which brought forward expectations of rate cuts. Read our latest thoughts on how fixed income markets performed during the month and what we think you should be looking out for in the near term.
Global Fixed Income Strategy Monthly Report
In our regularly updated macroeconomic analysis we offer an outlook for interest rates and currencies – and look at which fixed income assets are favoured across a range of market environments.
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If we are to live more sustainably by 2030, the Climate Policy Initiative estimates that US $4.3 trillion will be needed annually. Climate adaptation and transition projects are helping, but more finance is needed. Find out more.
Emerging market investment grade debt for insurance companies
At Invesco, we have extensive experience investing in EM debt and working with institutional clients to provide tailored solutions that can meet their exact requirements.
Euro Corporate Bonds: how we’re positioning portfolios in the current market
Julien Eberhardt, Fund Manager, in the Invesco Fixed Income Europe team shares his thoughts on the key headwinds that have impacted bond market performance in 2024. Find out why he is more positive on rates in Europe than the US and in cautious on credit risk and how this is influencing his management of the Invesco Euro Corporate Bond Fund in our Q&A.
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Data as at December 2021, unless otherwise stated. By accepting this document, you consent to communicate with us in English, unless you inform us otherwise. Where individuals or the business have expressed opinions, they are based on current market conditions, they may differ from those of other investment professionals and are subject to change without notice.