Analysis

In a spirit of openness and transparency, we communicate on what we do in the field of SRI.

 

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News

[15/05/12]

Sector analysis: Analysis of the non-food retail sector

Dexia AM’s latest SRI sector analysis focuses on the challenges the non-food retail sector is facing. The macro-analysis assesses companies’ exposure to Global Sustainability Trends while the micro-analysis assesses companies’ ability to take into account their stakeholders’ interests in their long-term strategies.

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Research & discussion papers

We regularly outline our research on the material impact of sustainability criteria in sectors and on company valuations. Occasionally, we also ‘discuss’ sustainability related thematics.
Read our Research and discussion papers

Mix of Corporate and Government Bonds 

With our SRI mixed bonds funds, clients can:

  • diversify between bonds issued by corporations and governments managing in the best way their sustainability-related challenges 
  • profit from the security and liquidity of EMU government bonds 
  • benefit from the attractive yields afforded by Investment Grade corporate bonds.

Consult our SRI mixed bonds fund range

 

The bond selection process consists of two major phases: the SRI analysis and the fixed-income investment process.

 

In order to optimally assess the sustainability of the different bond issuers, our team of 11 sustainable development specialists starts by executing our rigorous in-house SRI analysis differentiated by type of issuers.

To make sure we only invest in bonds issued by sustainable and responsible corporate issuers, companies issuing bonds are assessed based on our company SRI analysis, illustrated below.  

 

For a more detailed description of each step, please click on the blue building boxes.  

 
 
Furthermore, to assure we invest only in government bonds issued in countries that are well managing their sustainable development, i.e. ensuring their present welfare and economic prosperity without compromising the ability of future generations, we select countries via our country sustainability analysis.
 

 

Finally, supranational organisations are submitted to our supranational SRI analysis to guarantee we only invest in bonds issued by sustainable and responsible supranational organisations

 

 

 

Financially speaking, the fund is managed in accordance with a structured and strict process founded on quantitative models and in-depth market analysis, aimed at exploiting various sources of performance.
The credit strategy consists of a top-down credit allocation approach as well as a bottom-up approach.  Top-down, determinant factors and the outlook for the financial and non-financial sectors are analysed.  Bottom-up, a selection of securities is executed, based on an appraisal of the credit quality and of the valorisation of the issuer. Finally, a risk budgeting process prevents a too high concentration of risks.