On Thursday, June 5, a new event in our series of “Salotti Finanziari” was held at the Terramare agriturismo in Cesena, Italy, dedicated to a topic that is as topical as it is often overlooked: “The Silent Role of the Bondholder.”
Leading the reflection was Edoardo Battistelli, CFA, Senior Vice President & Account Manager at PIMCO, one of the most prestigious international management houses, with more than $2 trillion in assets under management and established fixed income expertise.
Several key aspects for understanding the opportunities in the bond market today were discussed in depth during the meeting, including:
- the return of the bond as a strategic asset class, also with a view to balancing risk in portfolios;
- the pull-to-par effect and the value of cash flow predictability;
- the correlation between initial returns and future performance, at a time when the level of rates offers attractive entry points;
- the competitive advantages of active bond funds, including diversification, access to global markets, and professional risk management;
- a prospective comparison between bonds and equity, with a consideration of expected returns with equal volatility.
The talk concluded with a strategic reflection on how the bond component, properly selected, can be a more stable and resilient driver of returns today, especially in a still uncertain and highly volatile market environment.
The Salotto FInanziario is confirmed as a space for dialogue where investment topics can be explored in depth with the support of authoritative speakers and encourage direct discussion between advisor and client.
