Top LO AM Firms for Fixed Income

Who are the top active FI managers, specifically within non-investment grade (HY/LL) strategies? I am aware of PIMCO, TCW, Lord Abbett, PGIM, Fidelity, and DoubleLine. Also, what are your thoughts on FI groups at well-regarded equities shops, like Wellington and Capital Group?

Would appreciate getting some color on comp, culture, and mobility at any of the aforementioned firms.

Thanks in advance.

2 Comments
 

I work in FI for a well regarded AM (AUM 1T-500B) not listed above. The firm has historically been equity focused but growing FI franchise has beeb a focus for last 10yrs. What that’s meant is there’s been a lot of opportunities as the team grows and many have benefitted as a result. Performance is strong too so hopefully asset flows will come but that still remains to be seen. It does help to be supported by a strong equity franchise as well (mgmt access, counterparts to collaborate with and strong reputation/relationship w clients).

Downsides would be that we make less than them and possibly weaker exit opps than working in eq (hard to verify) and a slightly less refined investment process (which can be a positive or negative depending on how you view it).

 

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