Corporate bonds still offer opportunities in 2021

Christian Bettinger, Head of Fixed Income – Euro flexibel Bonds looks at the balance sheet health of European issuers and highlights two attractive investment alternatives in the current nega-tive interest rate environment.

COVID-19 induced lockdowns, massive revenue losses, zombie companies and an impending wave of insolvencies – a flood of horror news kept the corporate bond market on tenterhooks in 2020. Nevertheless, after a correction of unprecedented speed and magnitude, many segments closed in positive territory, with risk premiums close to the levels at the beginning of the year. Can one continue to invest in corporate bonds with a clear conscience or is 2021 in for a rude awakening in view of valuations that are no longer favourable?

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Author

Christian Bettinger

Christian Bettinger, CFA, has been with the company since June 2009. As fund manager of the mutual funds Berenberg Euro Bonds and Berenberg Credit Opportunities, he is responsible for the selection of corporate bonds in the Multi Asset area. After apprenticeship as a banker and studying business administration at the Catholic University of Eichstaett-Ingolstadt, he first went through the trainee program at Berenberg. In February 2010, the business graduate was taken over early as a junior fund manager with a focus on derivatives and fixed income. Bettinger is a CFA-Charterholder, Certified Financial Engineer (CFE) and admitted Eurex trader.

Head of Fixed Income Euro Flexible

Suitable investment solutions

Fixed Income Europe

Invest in modern bond portfolios, actively managed with a focus on euro-denominated bonds and flexible portfolio positioning.

Fundname
ISIN | WKN:
Performance
1 year
Volatility
1 year
NAV

Berenberg Credit Opportunities R A

LU0636630005 | A1JBQ7
Date: 24.05.2022
ISIN: LU0636630005
WKN: A1JBQ7
Performance 1 year: -7.39%
Volatility 1 year: 2.51%
NAV: 120.31 EUR

Berenberg Credit Opportunities R D

LU2116693222 | A2PZPX
Date: 24.05.2022
ISIN: LU2116693222
WKN: A2PZPX
Performance 1 year: -7.59%
Volatility 1 year: 2.51%
NAV: 105.54 EUR

Berenberg Euro Bonds R A

DE000A0MZ309 | A0MZ30
Date: 24.05.2022
ISIN: DE000A0MZ309
WKN: A0MZ30
Performance 1 year: -8.16%
Volatility 1 year: 2.05%
NAV: 64.40 EUR

Berenberg Euro Bonds R D

DE000A0RB9M9 | A0RB9M
Date: 24.05.2022
ISIN: DE000A0RB9M9
WKN: A0RB9M
Performance 1 year: -8.14%
Volatility 1 year: 2.05%
NAV: 49.34 EUR