to help you make informed decisions about your wealth
Archived article

Cautious cultivation

28 October 2016

Bond investor Howard Marks of Oaktree Capital says the key is to weed out the companies that don’t keep their promises.



The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up.  You may get back less than you invested. 

This communication expresses the views and opinions of the participants as of the date it was recorded and such views and opinions are subject to change without notice. Oaktree Capital Management, L.P. (“Oaktree”) has no duty or obligation to update the information contained herein. This communication may include forward-looking statements that are based on then-current beliefs of the participants. Such forward-looking statements may involve assumptions and known or unknown risks and uncertainties that are subject to change and may differ from actual results, performance or events that occur in the future. Forward-looking statements speak only as of the date the statements are made. Further, Oaktree makes no representation, and it should not be assumed, that past investment performance is an indication of future results. Moreover, wherever there is the potential for profit there is also the possibility of loss.

This communication is being made available for educational purposes only and should not be used for any other purpose. This communication and the information contained herein do not constitute and should not be construed as an offering of advisory services or an offer to sell or solicitation to buy any securities or related financial instruments in any jurisdiction. Certain information contained herein concerning economic trends and performance is based on or derived from information provided by independent third-party sources. Oaktree believes that the sources from which such information has been obtained are reliable; however, it cannot guarantee the accuracy of such information and has not independently verified the accuracy or completeness of such information or the assumptions on which such information is based.

Securities in the lower rated categories and comparable non-rated securities are subject to greater risk of loss of principal and interest than higher rated and comparable non-rated securities and are generally considered to be predominantly speculative with respect to the issuer's capacity to pay interest and repay principal. They are also generally considered to be subject to greater risk than securities with higher ratings or comparable non-rated securities in the case of deterioration of general economic conditions. Because investors generally perceive that there are greater risks associated with the lower rated and comparable non-rated securities, the yields and prices of such securities may be more volatile than those for higher rated and comparable non-rated securities. The market for lower rated and comparable non-rated securities is thinner, often less liquid, and less active than that for higher rated or comparable non-rated securities, which can adversely affect the prices at which these securities can be sold and may even make it impractical to sell such securities.

Some of the products and investment structures documented within this article will not be available to our clients in Asia. For information on the funds that are available please get in touch.


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