SA Fixed Income
Funds investing in government, state-owned enterprise and corporate bonds across the South African yield curve, managed with explicit views on duration, curve positioning and liquidity.
Our Services
Four capabilities, one specialisation.
Our four capabilities
SA Credit
Funds focused on listed, unlisted, and structured credit, appraised name by name, with pricing that reflects the risk actually being taken rather than a rating given by an agency.
SA Flexible Income
Funds that combine our best views in SA fixed income and credit markets, allowing us to allocate actively and opportunistically in the most favourable instruments at any given time, all while minimising risk and protecting capital.
Pan-African Credit
Funds investing in bonds, loans and other credit instruments issued by high-quality African corporates, governments and projects, with a focus on key industries in the largest and most established economies on the continent.
Investment Philosophy
Return is what you are paid. Risk is what you actually own.
We build portfolios from the bottom up, priced security by security, and take risk only where we are convinced we are being paid enough for it.
Vachellia’s philosophy is that bonds, credit, structured products and money markets are potentially all interchangeable. They differ only in their relative exposure to three types of market risk: liquidity risk, credit risk and duration.
Instead of the “siloed” approach to these fixed income asset types taken by most asset managers, Vachellia’s position is that once a client has communicated their appetite to the three risks mentioned above, as well as their return expectations, we possess the capability of allocating in a flexible and tactical manner between the fixed income asset types, based on the relative value and risk they offer at any given point in time.
In order to enhance this investment style, Vachellia believes in investing in an active and dynamic manner, including using derivative instruments for hedging as well as return enhancement.
Contact Us
Discuss a mandate.
For enquiries about any of our four capabilities, write to us directly and we will get back to you.