• Research
  • News

High Yield Bonds: the camel of the bond market?

High Yield bonds are a feature in many private investment portfolios. They tend to be seen as corporate bonds with higher risk but substantially higher yield.
This is a misconception.
High Yield bonds do not only carry higher risk but deviate I many aspects from the corporate bond world. They represent a different universe of companies (more cyclical, significantly higher leverage, shorter maturities),
It is thus a different asset class and needs to be treated as such in building diversified portfolios for private investors.

Stephane Lods joins the International Advisory Panel

Mr. Lods is the founder of Analytical Research and has over 35 years experience in finance and 20 years in hedge funds and alternative assets. Mr. Lods was a co-founder of Eurogestion & Partners S.A. (EG).  Under his leadership and guidance, the firm grew to over $1.5 billion in assets under management (advisory). He is a pioneer in hedge fund of funds investing and consultancy. Prior to founding EG, Mr. Lods consulted for a European family and established a family office in Geneva, which he managed while investing mainly in alternative assets and third-party managers. Mr. Lods served on various investment boards providing advice to Swiss private banks and their Luxembourg SICAV alternative investments. Since 2003, Mr. Lods sits as a judge for IPE’s (Investment & Pensions Europe) Hedge Fund section and is an appointed member of the Executive Committee of the Convention of Independent Financial Advisors (CIFA) and a CIFA permanent representative to the United Nations. CIFA is a non-governmental organization in special consultative with the Economic and Social Council of the United Nations. Previously, Mr. Lods held numerous investment roles with premier institutions such as Bucephale Group (Founding Partner), which was the investment advisor of CreInvest AG, the first listed company on the Zurich Stock Exchange to invest in hedge funds, Union Bancaire Privée and Lombard Odier & Cie. Mr. Lods attended the Technicum Institute of Geneva majoring in Architecture.