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Multi-Asset Credit Strategy

An all-weather credit portfolio

Strategy overview

Investment Approach
Rigorous bottom-up driven credit selection process with full integration of proprietary sustainability framework and transition alignment evaluation

Investment Opportunity
Provides access to the best ideas available in the credit universe by dynamically allocating across global credit markets

Investment Universe
Global credit across both developed and emerging markets

Darpan Harar
Portfolio Manager
Justin Jewell
Portfolio Manager

The role the strategy can play in portfolios

Provides a core global credit solution

Invests across multiple return drivers. Seeks to be defensive in downturns and capture upside consistently.

Complements top-down allocations

High conviction - but well diversified - best ideas portfolio complements more macro-driven (top-down) debt allocations

Diversifies existing 'growth' solutions

Focuses on credit spread-driven returns with low interest-rate sensitivity. Sector, region, benchmark and asset class agnostic

Helps to achieve 'de-risking'

Aims to provide a higher Sharpe ratio and lower drawdowns than equities. Monthly and daily liquidity options available

Investment Philosophy

01

Structural market inefficencies and behavioural biases create persistent opportunity

02

Avoiding permanent loss of capital is key to successful credit investing. This requires a rigorous bottom-up driven credit selection process, focused on enduring businesses

03

Credit market cycles are driven by fundamentals, valuations and market price behaviour (Compelling ForcesTM), usually in unequal measures

04

The investment team and its structure is as important as the process

Performance

Portfolio & Holdings

Date as of 30/04/2026
Strategy
AAA
2
AA
3.8
A
4.4
BBB
17.2
BB
24.1
B
34.3
CCC
2.4
C
0.1
Not Rated
0.3
Cash and near cash
11.4
*Bond ratings are Ninety One approximations.
Based on a related portfolio within the strategy with substantially similar objectives, policies and strategies as those of the services being offered. The portfolio may change significantly over a short space of time. This is not a buy, sell or hold recommendation for any particular security. For further information on Indices and Specific Portfolio Names, please reference the sections here.

Why Ninety One for Multi-Asset Credit Strategy

01

Investment team has extensive experience over many market cycles. Team structure facilitates an unconstrained approach to identifying the best ideas available across the credit landscape

02

Investment process designed to identify mispricing opportunities made available by the biases and inefficiencies that influence asset classes

03

Careful security selection and rigorous risk management process built around Ninety One's bespoke 'Compelling Forces'TM investment framework

04

Proprietary sustainability framework identifies enduring companies with well-defined approaches to navigating the transition to a low-carbon world

Strategy literature

Key facts

  • Asset Subclass

    Credit

  • Currency

    USD

  • Inception date

    01/01/2016

  • Team

    Alternatives team

  • Geographical Focus

    Global

  • ESG Classification

    Enhanced Integration

  • Comparative Benchmark

    SOFR+4% (pre 01Dec21 LIBOR USD 3M+4%)

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The content of this website is made available for informational purposes only and should not be construed as an offer, marketing, solicitation or investment advice with respect to any investment products or services. The website has not been reviewed or approved by any regulatory authority and may contain information with respect to investments products that may not be registered in some jurisdictions.

Although we believe any information obtained from external sources to be reliable, we have not independently verified it, and we cannot guarantee its accuracy or completeness (ESG-related data is still at an early stage with considerable variation in estimates and disclosure across companies. Double counting is inherent in all aggregate carbon data).

Any decision to invest in the Strategy described should be made after reviewing the offering document and conducting such investigation as an investor deems necessary and consulting its own legal, accounting and tax advisors in order to make an independent determination of suitability and consequences of such an investment. This material does not purport to be a complete summary of all the risks associated with this Strategy. A description of risks associated with the Strategy can be found in the relevant offering or other disclosure documents where applicable. Copies of such documents are available upon request.

Additional information on our investment strategies not found here (ninetyone.com/-/media/documents/miscellaneous/91-further-information-en.pdf) may be provided on request.

For more information on our Ninety One ESG Classification, please click here