December rounded out what has been a volatile 6 months for markets in general, with credit markets being no exception
December rounded out what has been a volatile 6 months for markets in general, with credit markets being no exception. Credit spreads were on balance a bit stronger during the month, however there were still notable price fluctuations across most sectors, with both the global and domestic economic backdrop continuing to provide mixed signals. Noise surrounding Chinese growth, Greek politics, US rate rises and the Australian macro all muddied the waters somewhat and contributed to the volatility.
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At PM Capital we are not afraid to be different, we search the world for undervalued stocks, we avoid the trap of “group think” and prioritise company valuation over all other aspects. Founded in 1998, PM Capital is part of the Regal Partners Limited stable of alternative asset managers and specialise in Global & Australian equities and Global Fixed Interest strategies. We believe the very best way to minimise investment risk is through understanding valuation, as such, we avoid companies who are hard to understand or difficult to value and are well known for our discipline in resisting short term market noise and ability to hold investments through full industry cycles.
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