The September 2017 Quarterly Report and video update provides the latest information on the performance of PM Capital's portfolios, investment activity and market outlook.
In this video update Chief Investment Officer Paul Moore gives his views on why:
We’re in the first innings of a transition to a rising interest rate environment
Focusing on risk/ reward criteria is more important than geographical allocations
The key market driver will be earnings growth
“Another anecdote highlighting how distorted bond markets have become was the issue by Argentina of a 100 year bond at 8% - a country that has a history of default. Back in 1994 we actually made a successful investment in Argentine bonds at a yield to maturity of approximately 65%.”