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CQS New City High Yield Fund - Research from QuotedData
17 May 2022
Interest rate rises maybe too little, too late
Ian Francis, the manager of CQS New City High Yield Fund (NCYF), has observed the marked shifts in central banks' policy towards raising interest rates this year. He feels that, while recent rises are a move in the right direction, central banks' caution - driven by concerns regarding the fragility of the global economy and the risk of repeating previous policy mistakes of tightening monetary policy into a slowdown - is leading to a very serious risk of inflation taking hold.
He thinks inflation could become embedded at a potentially unsustainable level and that the UK economy is more vulnerable than those of Europe and the US. Reflecting this, financials and real assets account for a large part of NCYF's portfolio. Ian has also been adding to NCYF's overseas exposure at the margin and has been gradually edging up the portfolio's exposure to equities.
Full research:
https://quoteddata.com/research/cqs-city-high-yield-interest-rate-rises-late-qd/
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