Fixed Income

Safe Investments, Dynamic Management

The Fixed Income team manages liquid financial products that provide a stable, foreseeable income as well as capital protection. These products include:

• Short-term securities, such as Treasury bills;
• Bonds issued by governments, municipalities or corporations;
• Commodities like oil, gold, wheat and coffee.

Mandate
Manage the Caisse’s specialized fixed-income securities portfolios so as to obtain a return greater than the market indices, while taking into account the authorized risk limits.

Contribute to the financing of the Caisse’s less liquid portfolios.

Specialized Portfolios
The team is responsible for managing six portfolios:

• Short-Term Investments
• Real Return Bonds
• Bonds
• Long-Term Bonds
• Québec International (jointly managed with the Equity Markets team)
• Commodities

Investment Approach
Portfolio managers aim to create value as they privilege:

• Diversification of value added sources to seize cyclical and event-driven investment opportunities;
• Diversification of management styles to further the low correlation between results and greater stability of value added;
• A focus on asymmetric risk-return profiles through controlled losses, investment timing and strategy structure;
• Management of risk levels based on the evolution of risk premiums.

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Additional Information
Profile of Head of Fixed Income
Equity Markets
Real Estate
Private Equity