FTGP’s Leonardo DaCosta to address yield divergence at London Forum

Leonardo DaCosta, director and portfolio manager at First Trust Global Portfolios is discussing yield divergence and currency risk premia when he takes part in the upcoming London Forum, taking place 30 November.

As investors have had to grapple with yield compression in recent years, making it challenging to generate returns from traditional fixed income allocation, there has been considerable focus on duration and credit risk factors. However, DaCosta argues there is an opportunity in shifting the focus from absolute yield levels to relative yield divergence globally while also factoring in currency risk premia – FTGP’s FactorFX fund does this, by seeking total return from carry, value and momentum factors in global fixed income and currency markets.

DaCosta joined FTGP from a boutique French asset manager where he was portfolio manager on the fixed income team. Previously, he worked for Hydra Capital Management, a specialist emerging market fund manager, on the firm’s long/short and long only emerging market fixed income products. He started his career as a member of the Global Emerging Market Debt team at Aberdeen Asset Management. The team was responsible for managing $2.5bn of emerging market fixed income assets across total return, income, and closed end products.

DaCosta has a B.Comm (Honors) in Investment and Financial Management from the University of Pretoria (South Africa) and is a CFA charterholder.

Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 17 years he has been based in London writing about funds and investments. From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope. Jonathan was awarded Editor of the Year at the Professional Publishers Association (PPA) Independent Publisher Awards 2017. Shortlisted for the same in 2016, he was also shortlisted in 2017 and 2015 for the broader PPA Awards category Editor of the Year (Business Media).

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