Fund manager


Stuart Steven

Assessing banks: focusing on the E and S as well as the G

While sustainable analysis of banks has traditionally focused on the governance part of ESG, Stuart Steven highlights growing efforts by many of the sector’s larger names to drive the energy transition via carbon management across their loan books. Read more
Stuart Steven

Reacting to changes in credit ratings

With BBB debt now accounting for 60% of the investment grade market, close to doubling over the last decade, we are relaxing minimum credit rating restrictions on the Monthly Income Bond Fund. This is designed to ensure flexibility for our Fund and give the managers the best opportunity to perform in future. Read more
Stuart Steven

Why we favour short duration, investment grade, banks and insurers

As companies prepare for a long recovery from Covid-19, Stuart Steven continues to favour top-tier bonds from banks, insurers and telecom companies where he predicts very limited downgrades in the months ahead. Read more
Stuart Steven

Little value in ‘extremely expensive’ index-linked debt

Despite recent outperformance from index-linked bonds, Stuart Steven highlights an expensive asset class with considerable duration risk and negative returns if held to maturity. Read more
Stuart Steven

QE – what is it good for?

As the European Central Bank announces open-ended money printing from November, Stuart Steven questions the impact of further quantitative easing on the real economy. Read more
Stuart Steven

Credit remains attractive despite bumpy Brexit ride

Stuart Steven looks through current macro risks and sees a solid longer term outlook for corporate bonds – although crash helmets might be required in run up to 31 October. Read more
Stuart Steven

Managing funds in a more volatile market

Global bond markets are experiencing increased volatility and therefore the heightened potential for macro shocks. Stuart Steven, co-manager of the Liontrust Monthly Income Bond Fund, explains the tools that can be used to seek to manage volatility and mitigate against macro shocks. Read more
Stuart Steven

Two themes for 2018 – steeper yields and avoiding expensive CoCos

Fixed income investors face two key themes this year. First, how to navigate rising interest rates and a steepening yield curve and, second, whether investors are being compensated for the risk of investing in CoCos. Stuart Steven, Head of the Sustainable Fixed Income team at Liontrust, explains the implications for investors. Read more