Active fixed income has been at the cornerstone of ILIM since our inception. As an experienced fixed income manager, we know that the best strategy is one that meets your needs. Our strategies follow an investment philosophy that does not involve leverage, but makes best use of available active fixed income market opportunities within a defined set of risk parameters.

Our Approach

We understand that because the market is dynamic, our investment strategies must be as well. We create high-quality, well diversified investment strategies by combining:

  • Duration positioning
  • Country selection
  • Secondary sources of alpha
  • Trading expertise
  • Risk management
  • Distinctive portfolio design

The outcome is a range of reliable investment solutions that allow investors to meet desired outcomes across risk and return profiles. We have a proven track record of delivering to our clients’ needs across economic cycles and for different client objectives.

Reasons to invest

As well as delivering a proven track record of performance, we differentiate our active fixed income capabilities in the following ways:

  • A proven fixed income team
    A stable team with an average of 25 years’ fixed income investment experience. Our funds have over 20 years history in active fixed income performance with strong positive outperformance.
  • Robust investment process
    We implement a multi-strategy approach with an emphasis on active duration management and secondary sources of alpha like county allocation, inflation linked and swap-spread modelling. Real time modelling and analysis allows for quick adjustment to portfolio positioning, capturing value opportunities in rapidly changing market environments.
  • Emphasis on managing risk
    We seek to capture a diverse range of fixed income opportunities whilst closely managing market risk, with significant emphasis on avoiding downside scenarios and thus aiming to generate strong risk-adjusted returns

 

Our Products

All of our fixed income investment strategies are underpinned by our proprietary research, extensive fixed income experience and state of the art fixed income management systems. We currently offer the following fixed income strategies which can be further tailored to suit client specific objectives:

  • Active Euro Government Bond Strategy: The Active Euro Government Bond Strategy focuses on managing a variety of Eurozone fixed income funds versus a given benchmark. Key products are Eurozone all maturities, 1-5 year, 5+ years and 10+ year maturity funds, while also actively managing inflation linked bond funds. The active strategy seeks to outperform the given benchmark over 3 year rolling basis.  We utilise all major sectors of the Euro Government bond markets to implement a diversified set of strategies including country, currency and sector rotation, yield curve positioning and duration management.
  • Bespoke Fixed Income solutions: Beside our standard active fund suite ILIM Fixed Income provides bespoke Fixed Income solutions for our clients. Most of these solutions are a product of close cooperation with the client, their advisors and actuaries. After clearly identifying the client needs ILIM Fixed Income will present a fixed income portfolio that matches the clients profile.  For this process ILIM Fixed Income utilises a variety of in-house and external tools to optimise funds with regards to a variety of factors such as: maturity (duration), income and risk requirements. As both client requirements and bond markets are not static the ILIM Fixed Income team monitors these funds on an ongoing basis providing clients with regular updates and suggestions of how to improve these funds.

Our team

Key Contacts

 

 

  • Max Plapp

    Head of Fixed Income +353-1-704-1239 Email

    Max is responsible for the management of the Irish Life's fixed income portfolios and is a member of the Asset Allocation committee. 

    Prior to joining ILIM in 1998, Max gained 16 years’ experience with Commerzbank, initially working on investment strategy for private clients in the Stuttgart branch network. In 1989, he moved to CICM (Ireland) Ltd, the Commerzbank fund management arm in Dublin. There, he managed single currency and European and global bond portfolios for predominantly German institutional and private clients.  

    Max graduated as Diplom Volkswirt at the University of Wuerzburg.

  • Lenny McLoughlin

    Chief Economist +353-1-704-2479 Email

    Lenny was appointed Fund Management Economist in August 2012 and is a member of the asset allocation committee. Previously, he was responsible for managing the financial and retail sectors in ILIM’s active global equity funds. Lenny has over 25 years’ experience in the financial industry.

    Prior to joining ILIM in July 2005, Lenny worked for Zurich, AIB and Aviva Investors in equity research and investment management roles.

    Lenny graduated with a B.A. in Economics from Trinity College Dublin in 1986, and became an Associate Member of the Institute of Investment Management & Research in 1990.

  • John Thornton

    Senior Fixed Income Manager +353-1-856-3073 Email

    John is part of the active Fixed Income team in ILIM.

    Prior to joining ILIM in 2011, John worked for UBS in London, helping to re-establish a bond trading desk for European asset-backed securities (ABS), and was an executive director within the UBS credit trading department. Before this, he held roles in London at RBS and J.P. Morgan, across both primary and secondary ABS markets. Prior to his work at J.P. Morgan, John worked for Canada Life in Dublin. While working in life assurance, he qualified as an actuary, before moving to London.

    John graduated from University College Dublin in 2002 with a bachelor’s degree in Actuarial and Financial studies.

  • Keith Florea

    Assistant Economist/ Fixed Income Analyst +353-1-856-3945 Email

    Keith Florea is the Assistant Economist/ Fixed Income Analyst and is responsible for researching and formulating investment strategy and relaying it to both internal and external stakeholders. He joined ILIM in 2016 from The Bank of New York Mellon. Prior to BNY Mellon he worked in Carlyle Partners’ private equity fund of funds, AlpInvest Partners, in Amsterdam. 

    Keith holds a primary degree in Business Studies from Trinity College, Dublin and a first-class honours MSc. in Financial Economics from the Erasmus School of Economics in Rotterdam.

How can we help?

Irish Life Investment Managers (ILIM) is the appointed asset manager to Irish Life Group Limited. ILIM is committed to innovating and leading the market with best in class investment solutions designed to meet the specific investment needs of our clients. Call us at: +353-1-704 1200 or email [email protected]

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