Fixed Income and Currencies

Safe Investments, Dynamic Management

The Fixed Income and Currencies team manages liquid financial products that provide a stable return as well as capital protection. These products include:

• Short-term securities, such as Treasury bills;
• Bonds issued by governments, municipalities or corporations;
• Currencies like the U.S. Dollar, the Euro, the Japanese Yen or the Chinese Yuan.

Mandate

• Manage the Caisse’s specialized fixed-income securities portfolios so as to obtain a return greater than the market indices, while taking into account the authorized risk limits.
• Trade foreign currencies and foreign exchange contracts on several world markets.
• Contribute to the financing of the Caisse’s less liquid portfolios.

Specialized Portfolios
The team is responsible for managing five portfolios.

• Short-Term Investments
• Real Return Bonds
• Bonds
• Long-Term Bonds
• Québec International (jointly managed with the Asset Allocation and the Equity Markets teams)

Investment Approach
The team actively manages its portfolios on the basis of the following principles:

• Exploitation of investment opportunities in all fixed-income securities and currencies markets;
• Diversification  and selection of management styles and investment strategies;
• Variation and multiplication of sources of value added;
• Control of eventual losses through a rigourous management of market positions.

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Additional Information
Profile of Head of Fixed Income and Currencies
Asset Allocation
Equity Markets
Hedge Funds
Real Estate
Private Equity