Credit Opportunities

Investment Strategy

At AUIM, we manage portfolios under a uniform investment approach driven by a seasoned group of investment and risk management professionals. Performing in a team-oriented environment, we focus on fundamentals, positioning, technicals, and valuation throughout each step of the investment process. Our Credit Opportunities strategy is a fundamental, value-driven investment approach for stressed, distressed, and defaulted securities. Focus is given to fundamental analysis across a company's entire capital structure, and across different credits in order to determine the best risk-adjusted potential. 

We begin our investment process with fundamental, independent bottom-up research across the lower quality portion of the leveraged finance market. The analysis is focused on a company's business, industry, and capital structure. Our research includes collaboration with Analysts and Portfolio Managers from different asset classes within the firm, particularly the high yield asset class. Further, it is key for our Distressed Team to highlight the value of assets available to creditors at various parts of the capital structure. This process incorporates all industry- and company-specific information to determine enterprise value. as well as analysis of how that value might be enhanced or compromised in an asset sale, restructuring, bankruptcy, or liquidation situation. This valuation is used as primary input to determine recovery value/asset coverage of particular securities within the capital structure, and subsequently to the relative attractiveness of those securities. This fundamental analysis looks at both risk-adjusted return potential within the company's capital structure, as well as amongst different credits. 

We strive to fully leverage resources and provide optimal investment management services to our clients.

Key Facts

$188 million USD

Strategy AUM

$106 billion USD

Firm AUM

Strategy Objective

To consistently achieve high risk-adjusted returns throughout the credit cycle. The Composite is compared to the Caa component of the Barclays U.S. Corporate High Yield Index.

As of 09/30/2017

Credit Opportunities Institutional Fact Sheet

Click here to open the latest Credit Opportunities Commentary.

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Composite Disclosures

Click here to download the Credit Opportunities - Long Only GIPS® Composite Disclosures.

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Portfolio Management Bios

Click here to download bios for the Credit Opportunities Portfolio Management Team.

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Aegon USA Investment Management, LLC, (AUIM) is a U.S.-based investment adviser registered with the Securities and Exchange Commission (SEC) and a member company of Aegon Asset Management, the global investment management brand of the Aegon Group.