“We are pleased to announce that, for the third year in a row, the Algebris Financial Credit Fund has been awarded the German Fund Award 2022 (Deutscher Fondspreis 2022) and the Austrian Fund Award 2022 (Österreichischer Fondspreis 2022) by the German and Austrian funds magazine FONDS Professionell”, says Johannes Wettstein, Head of DACH-region. The fund won first place in the category Global Fixed Income Funds 2022.
“Algebris is a global asset manager with extensive expertise in financials, and a long, consistent track record of investing in equities and fixed income”, comments Sebastiano Pirro, CIO and Portfolio Manager of the Algebris Financial Credit Fund. “Algebris Financial Credit invests in the senior and subordinated debt of global systemically important financial institutions, selected by the investment team through a rigorous and detailed bottom-up approach to focus on the most robust, diversified, profitable and regulated issuers. The selection process further benefits from the team’s unique understanding of the regulatory environment. The investable universe has long displayed better quality risk-reward compared to wider credit. Despite the solid, improving fundamentals, spreads remained wide, partly due to these securities being excluded from global quantitative easing and the large supply driven by the banks’ needs to fulfil regulatory requirements. Gradual recognition of the significant improvements made by banks in terms of their capital adequacy and balance sheet management, as well as the decreasing supply of subordinated bonds have favored spread compression. These factors, combined with Algebris’ active management, have helped us stand out from both a performance and a risk management perspective when compared to the peer group and other fixed income strategies. We believe that these factors and our long-standing experience in the sector will continue to contribute to the fund’s long-term performance.”
FONDS Professionell recognized 36 investment funds from 32 different companies in twelve categories for their “outstanding” investment results. The Institut für Vermögensaufbau (IVA) in Munich selected the three best funds for each category, evaluating the active management performance on the basis of an in-house developed portfolio and risk analysis.
