Fixed Income
ICON applies a “value oriented” approach to bond selection and management whereby a value opportunity related to a particular bond issuer or issue is identified. The concept behind this issuer- and issue-focused approach is to not only identify an inherent underlying value, but to also identify a catalyst that might result in realization of that value. We see it as a “bottom-up” analysis with a value-focused perspective. Value oriented bond management is less dependent on interest rates as a consequence of the non-interest rate catalysts often involved in the value proposition. We believe that while the inputs and events will vary, the process of analysis involved in value oriented bond investing may be repeatable. In the graphic at right are some of the opportunities we attempt to exploit through our process.
Click here to read our white paper for a deeper explanation of value oriented bond management.
The ICON value-oriented bond management approach may offer diversification benefits relative to other bond management approaches and within a broader overall portfolio.
There are risks involved with mutual fund investing, including the risk of loss of principal. There is no assurance that the investment process will consistently lead to successful results. Investing in fixed income securities such as bonds involves interest rate risk. When interest rates rise, the value of fixed income securities generally decreases. The Flexible Bond Fund may invest up to 35% of its assets in high-yield bonds that are below investment grade. High-yield bonds involve a greater risk of default and price volatility than U.S. Government and other higher-quality bonds.
ICON Advisers, Inc.
8480 E Orchard Road, Suite 1200
Greenwood Village, CO 80111