Fixed Income
Gopi Karunakaran

Last fortnight bond yields globally dropped to the low end of recent ranges and reached new record low levels in Australia, driven by a growing consensus view of slowing economic growth and lower interest rates going forward. While there is much uncertainty as to whether this scenario actually materialises, the... Show More

Education
Gopi Karunakaran

This is a question that’s currently very relevant for corporate bond investors, particularly in the ‘safe’ investment grade (IG) sector. Since the 2008 financial crisis, corporate bond markets have been in a real sweet spot. On one side they’ve seen huge capital inflows from yield chasing investors and on the... Show More

Collections
Livewire Exclusive

If 2018 were a boxing match, you would be Mundine and Mr. Market would be Horn. It only took you 96 seconds to be battered and bruised to the floor. What went wrong? What did you miss? Like Horn, markets have been unforgiving. Globally, we have seen one of the... Show More

Gopi Karunakaran

We have been in a period where financial market volatility has been abnormally low and as such, the focus in fixed income has become overly skewed to how much interest income can be generated, at the expense of ignoring downside risks. Show More

Fixed Income
Livewire Exclusive

The ‘reach for yield’ has caused formerly defensive portfolios to gradually venture into higher risk assets that could leave them exposed to downturns. As a consequence, Gopi Karunakaran, Portfolio Manager at Ardea Investment Management urges investors to question just how defensive their portfolios really are. In this short interview he... Show More

Fixed Income
Livewire Exclusive

Sudden outbreaks in volatility through this year have spooked the equity markets, and investors are questioning if more is to come. We spoke with rate market expert, Gopi Karunakaran, Portfolio Manager at Ardea Investment Management, who warned that there could be more to come. In this short video, he focuses... Show More

Fixed Income
Livewire Exclusive

When a triple-B-rated utility company issues a 3-year bond at a negative yield, perhaps it’s time for the credit cycle to call last orders at the bar? Gopi Karunakaran, Portfolio Manager at Ardea Investment Management flags some late-cycle behaviour, and warns of an imminent structural shift. Gopi compares what is... Show More

Gopi Karunakaran

Sacrificing liquidity in return for additional yield can be attractive if the compensation is sufficient and the time horizon of capital is appropriate. But corporate bond markets are currently not providing sufficient compensation for growing illiquidity risk. Show More

Gopi Karunakaran

As global expectations of rising interest rates and inflation begin to become more mainstream, investors are wise to pause and reflect on what this means for their overall portfolios. Against this backdrop, both long-term and more recent data strongly suggests that simply holding passive allocations to government bonds may not... Show More

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