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Absolute Return

A ‘best idea’ hedge fund aiming to deliver uncorrelated added value
Home Investment Solutions Fixed Income Absolute Return
  • Absolute Return
  • Active Duration Bonds
  • Core Bonds
  • Corporate Bonds
  • Core Plus Fixed Income
  • Impact Fixed Income
  • Infrastructure Bonds
  • Preferred Shares
  • Why?
  • Our Philosophy
  • Our Process
  • Why?

    Top Reasons for Choosing Addenda Capital to Manage your Absolute Return Bonds

    • We offer a distinctive product based on its liquidity and non-correlated returns to traditional assets.
    • We look to create value by capitalizing on short- and medium-term discrepancies within the bond market, irrespective of underlying market movements.
    • We seek alpha by exploiting market volatility and relative value opportunities, while limiting exposure to corporate credit.
    • We bring together transparency, maximum flexibility, healthy liquidity, compliance, diligent risk mitigation, market expertise and competitive fees.
  • Our Philosophy

    We believe that:

    • A consistent stream of alpha is achievable through numerous diversified investment strategies within a robust risk management framework.

    • Rigorous quantitative and qualitative analysis is required to build a portfolio (consisting primarily of cash bonds and derivatives) that delivers positive returns in all market environments.
  • Our Process

    Our investment process is based on a global macro approach. We look at economic data, market flow and global analysis to assess what’s happening in the marketplace.

    • Tactical and strategic positioning encompassing five sources of added value: market volatility, relative value of major foreign government bonds, currencies, provincial trading and corporate credit.

    • Extensive top-down analysis of macroeconomic/industry data and sentiment variables allows us to identify investment opportunities related to market volatility and their relative value. Opportunities in relation to corporate bonds, albeit restricted, are exploited via bottom-up assessments.
    • Portfolio construction reflects investment opportunities shared by a diverse team of specialists and allocated according to curve analysis, relative value metrics and sentiment. Various risk metrics are assessed and monitored, ensuring that no position or market exposure dominates the portfolio’s total risk at any point in time.
  • The success of our investment decisions stems from the knowledge, experience and diversity of our team.
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    Carl Pelland
    Vice-President, Fixed Income, and Head, Corporate and Impact Bonds
  • My role is to bring a quantitative dimension to the thinking and to the realization of our ideas and projects.
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    Vincent Benoliel
    Vice-President, Fixed Income, Active Duration and Quantitative Research
  • The great complicity between the investment teams is, in my opinion, the key to Addenda's success.
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    Frédéric Fontaine
    Director, Quantitative Research and Assistant Portfolio Manager, Fixed Income
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  • Well-tailored solutionsWell-tailored solutions

    Well-tailored solutions

    We build highly personalized multi-asset investment solutions that meet the return requirements and long-term objectives of institutions and high-net-worth individuals.
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  • Sustainable InvestingSustainable Investing

    Sustainable Investing

    At Addenda Capital, sustainable investing is not an afterthought; it’s part of our DNA. It makes us better investors and enables a better future.
    Learn More
  • Insight & NewsInsight & News

    Insight & News

    Stay abreast of our economic views, research insights and investment thoughts.
    Learn More
  • + Learn more about Addenda Capital
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  • Sustainable Investing
    • Promoting Sustainable Markets
    • ESG Integration
    • Stewardship
    • What is Sustainable Investing?
    • Sustainable and Impact Solutions
    • Sustainable Investing Team
    • Sustainable Investing Committee
  • Insights & News

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