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MacKay Strategies

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MacKay Shields investment teams utilize their own philosophy, processes, and experience to add value across capital markets.

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2Q 2025 Specialty Fixed Income Outlooks

Explore key trends shaping the fixed income market with perspectives from our specialty fixed income teams. MacKay Shields examines the evolving risk and return dynamics in global fixed income.

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Leader In Specialty Fixed Income

We are dedicated to investing for trusted clients globally, while ensuring the health of our company culture and the prosperity of our local communities.

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MacKay Shields High Yield

We utilize a bottom-up, value-oriented approach with an objective to outperform the market over the long-term through superior credit selection, while mitigating downside risk. 

Overview

Overview

          

Our team has a pure focus on high yield securities, with a consistently applied investment process. Given the asymmetric risk/return profile of investing in high yield, we have a long-term outlook, paying constant attention to risk versus reward and downside risk mitigation.

          

          

Strategies

Strategies

High Yield Strategies

          

STRATEGY
SEPARATE ACCOUNT
COLLECTIVE INVESTMENT TRUST
MUTUAL FUND
UCITS
FACT SHEET

High Yield

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Low Volatility (Short Duration) High Yield

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“Our investment process keeps us disciplined. We focus on those high yield bonds which our research shows have a sufficient margin of safety.” — Maureen O'Callaghan, Portfolio Manager and Analyst

          

Insights

Insights

          

FEATURED INSIGHTS

January 7, 2025
MacKay Moments - Using High Yield in an Uncertain Environment
How should asset allocators be thinking about high yield bonds as part of their toolkit in this uncertain environment of 2025?
4 MIN READ
January 2, 2025
1Q 25 High Yield Outlook
Technicals continue to be very supportive of US high yield market performance.
4 MIN READ
October 22, 2024
4Q 24 High Yield Outlook
With many risks in the financial market today, the team gives their outlook on the US High Yield Market.
April 8, 2024
Using High Yield in an Uncertain Environment
How should asset allocators be thinking about high yield bonds as part of their toolkit in this uncertain environment?
October 4, 2023
MacKay Moments - High Yield's Relative Value vs. Equities and Performance in Past Cycles
When we analyze high yield performance versus equities, we look at key valuation metrics such as the yield to worst of the high yield index.
September 1, 2023
MacKay Moments - High Yield's Resiliency: Leverage and Interest Coverage
As we assess the current high yield market, a key development stands out – its resiliency, even amidst a potential market slowdown.
4 MIN READ
July 12, 2023
High Yield Mid-Year Outlook
Stable fundamentals and reasonable valuations suggest that U.S. high yield market is better positioned than most fixed income asset classes due to its higher spreads, bigger coupons and shorter maturities.
3 MIN READ
June 26, 2023
The Case For a Strategic Allocation to High Yield
We believe the reset in fixed income prices provides a potentially unique opportunity for investors to de-risk their portfolios and benefit from lower expected volatility.
3 MIN VIDEO
June 27, 2023
Unlocking Potential: High Yield Bonds for De-Risking
Joseph Maietta explores the evolution of the U.S. high yield market since 2008, its potential for de-risking portfolios in the current environment and its relative value compared to equities.
30 MIN REPLAY
June 27, 2023
Using High Yield As An Equity Substitute to De-Risk Client Portfolios
Joseph Maietta and Craig Mepham discusses boosts in the high yield market, fundamentals and valuations, and relative performance against equities.
4 MIN AUDIOGRAM
May 23, 2023
MacKay Shields High Yield Market Update – May 2023
Nate Hudson, Portfolio Manager at MacKay Shields shares his observations of the High Yield market for the first quarter of 2023.
March 23, 2023
Where are we in the High Yield market today?
Joseph Maietta on the MacKay Shields High Yield team breaks down his thoughts on the market today.
March 23, 2023
Default rates in the latest economic cycle
What default rates are the High Yield team expecting in the latest economic cycle?
January 4, 2023
Find Enduring Value in High Yield
Andrew Susser discusses the challenges faced in 2022 and the unseen risks that may present itself in 2023.
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