Post's investment approach is focused on identifying high-quality businesses in attractive industries with lower risk characteristics relative to other issuers — attributes we believe should result in attractive long-term, risk-adjusted performance.

Investment Philosophy

Our process combines rigorous bottom-up fundamental credit research and analysis with an emphasis on downside risk mitigation. We augment our bottom-up credit research process with a top-down macro and technical overlay to enhance risk management with a goal of positioning our portfolios to achieve attractive relative and absolute performance through market and macroeconomic cycles.

Sub-investment grade corporate credit is inherently an asset class with an asymmetric return profile: when buying a bond or loan at par, an investor's best-case outcome will generally be the return of principal and coupon, and the worst-case outcome a default with limited or no recovery. Accordingly, we prioritize assessing downside risks when evaluating credit opportunities.

  • INVESTMENT PHILOSOPHY:
    Our investment philosophy is focused on the avoidance of defaults and capital impairment, which we believe should result in attractive risk-adjusted performance and lower volatility relative to market benchmarks.
  • CREDIT SELECTION:
    The foundation of our investment approach is based on extensive bottom-up fundamental credit research and analysis, focused not only on quantitative but also qualitative factors.
  • MACRO AND TECHNICAL OVERLAY:
    We augment our bottom-up fundamental credit research with a top-down macro and technical overlay to assess relative and absolute value and strategically position our portfolios through macroeconomic and market cycles.
  • CATALYST IDENTIFICATION:
    We conduct thoughtful analysis of potential catalysts in conjunction with disciplined pricing of negative event risk and positive optionality to help evaluate relative and absolute value and manage risk.
  • POSITION SIGNING:
    We proactively and opportunistically scale in and out of positions to maximize value and right-size positions based on market conditions and liquidity considerations.