Candriam

$750bn. That's what hyperscaler capital expenditure could reach in 2026, with debt expected to finance roughly one third of it. The #AI infrastructure boom is now a bond market story too. The question: who ultimately carries the risk? In practice, behind a data-centre project, there can be: ◾️ A technology company committing to use the capacity ◾️ Another company owning the property ◾️ Lenders financing the construction ◾️ A utility investing in the power infrastructure Each participant carries a different part of the risk. And delays or weaker demand can affect the whole project. In #CreditInvesting, understanding that exposure means looking beyond the borrower. Who owes whom, and where does the debt sit? Explore the topic, download our white paper 👉 https://lnkd.in/eSTiK8As

If you are an #institutionalInvestor, chances are geopolitical and fiscal uncertainty is testing your asset allocation assumptions. And #corporateBonds probably now sit at the centre of the debate within your organisation. The same themes play out very differently depending on the asset class: • 𝗔𝗜 has been a growth engine for equities, yet it raises new challenges for credit investing • 𝗖𝗹𝗶𝗺𝗮𝘁𝗲-𝗿𝗲𝗹𝗮𝘁𝗲𝗱 𝗿𝗶𝘀𝗸 is reshaping the landscape for equity and bond investors alike • 𝗛𝗼𝘄 𝘁𝗵𝗮𝘁 𝗿𝗶𝘀𝗸 𝗶𝘀 𝗮𝗻𝗮𝗹𝘆𝘀𝗲𝗱 can differ notably from one investment universe to another So what does this mean for institutional investors seeking 𝗿𝗲𝘀𝗶𝗹𝗶𝗲𝗻𝘁 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗮𝗻𝗱 𝘀𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗹𝗲 𝗼𝘂𝘁𝗰𝗼𝗺𝗲𝘀? Our experts will explore these questions in a live webinar. 🗓️ Wednesday 4 November 𝗦𝗮𝘃𝗲 𝘆𝗼𝘂𝗿 𝘀𝗲𝗮𝘁 👉 https://lnkd.in/e3_rfGC2

💡Credit risk is never one variable. It's a system: Issuer fundamentals, rates, liquidity, structure, all interacting and depending on the phase of the credit cycle. Moreover, the same issuer can be traded under very different conditions. In Credit investing, returns don't happen by chance. At Candriam, we stand at 0 issuer defaults across the credit strategies we manage*. It's all about discipline and experience in managing risk 📊 ◾️ €16.9bn Credit AUM ◾️ 20 dedicated Credit experts ◾️ 8 Credit strategies ◾️ 25 years investing in Credit markets Discover our approach to credit investing 👉 https://lnkd.in/dB9qJ83R *Over a 25-year period

Is #creditInvesting worth recommending to your clients? Whether they're looking to diversify, generate income or support sustainability goals, credit can play a role. ☑️ Diversify across issuers, sectors, regions and durations ☑️ Provide income across different maturities and capital structures ☑️ Support sustainability goals through an expanding sustainable bond universe Actually, credit investing is a broad toolkit, suiting the various needs of your clients. Discover more about credit investing and how we support you 👉 https://lnkd.in/dEge_aEY

Credit investing is built on risk. And that risk is where the opportunity lies 💡 Taming it is crucial. It means: ☑️ Treat risk as the raw material of return, not something to eliminate. ☑️ Be prepared for the next phase of the cycle, rather than trying to predict it. ☑️ Understand risk well enough to own it, rather than avoid it. ☑️ Be selective rather than broad, in this fragmented and complex universe. Explore our insights on credit investing, its risks and its opportunities 👉 https://lnkd.in/dWGJ3NPS

💡Credit risk is never one variable. It's a system: Issuer fundamentals, rates, liquidity, structure, all interacting and depending on the phase of the credit cycle. Moreover, the same issuer can be traded under very different conditions. In Credit investing, returns don't happen by chance. At Candriam, we stand at 0 issuer defaults across the credit strategies we manage*. It's all about discipline and experience in managing risk 📊 ◾️ €16.9bn Credit AUM ◾️ 20 dedicated Credit experts ◾️ 8 Credit strategies ◾️ 25 years investing in Credit markets Discover our approach to credit investing 👉 https://lnkd.in/dZEtzJ3q *Over a 25-year period