Basis Capital scores ratings double
Basis Capital has scored a double in Zenith Investment Partner’s review of its fixed interest sector, with two of the group’s funds securing the highest rating.
Basis Capital’s Aust-Rim Opportunity Fund and the Basis Yield Fund, alongside ColonialFirstState’s Wholesale Global Credit Income Fund, each received a highly recommended rating.
Zenith also added to its recommended list for the sector with five new funds making the grade. The new funds include AMP Capital Enhanced Yield Fund — Class A, DDH Global Fixed Interest Alpha Fund, Deutsche Monthly Income Plus Fund, Macquarie Income Opportunities Fund and the Putnam Worldwide Income Fund.
Other funds to make the list were Credit Suisse Global Hybrid Income Fund, Macquarie Master Diversified Fixed Interest Fund, Perpetual’s Wholesale Diversified Income Fund and the Principal Global Strategic Income Fund.
“The investment universe for fixed interest managers has increased exponentially over recent years,” said Zenith senior investment analyst Ben Davis.
“This has provided investment managers with the ability to broaden their sources of excess returns and reduce their reliance on a single strategy (e.g, duration) or single bond market (e.g, Australian bonds). This is a positive development as most traditional bond managers have struggled to provide consistent outperformance. It is for this reason that we have a preference for funds with diversified fixed interest mandates and a demonstrated ability to add value from a broad range of sources.”
Zenith’s review of the fixed interest sector initially looked at 80 funds that fell within this universe, after which full due diligence was carried out on the most attractive opportunities within this list, with a final recommended list of 12 funds selected.
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