Denis Smith

Murray invests in debt securities of companies that are financially distressed, in default, undergoing a financial restructuring and are in or near bankruptcy. They prefer event-driven investments with higher certainty for capturing value and liquidity that are not correlated to the underlying bond or equity markets. They may be either long or short in their investments. They are a research-driven firm, utilizing a bottom-up and a top-down approach to their investment selection process. They seek to construct a portfolio that is not overly-dependent on operational turnarounds. Murray seeks to produce absolute returns by managing overall volatility and preserving capital during adverse markets.

Barings? investment decisions across all asset classes incorporate a comprehensive analysis that uses or combines top-down and/or bottom-up approaches to investment analysis. The firm utilizes economic, fundamental, technical/cyclical, and quantitative analyses, along with a sound understanding of both macro drivers and micro considerations in its investment decision-making process and to manage risk. They invest in a variety of fixed income and financing instruments across various industries as well as credit qualities and maturities in North America, Europe, Latin America, Africa/Middle East, and the Asia-Pacific region. Barings manages portfolios of public equity securities and equity-related securities of issuers of all sizes. The firm has teams focused on three alternative investment sectors: Real Estate, Private Equity & Real Assets, and Funds & Co-Investments.