Tideway’s core focus is in fixed income credit and specifically in Hybrid Capital.
We prefer investments in regulated industries such as insurance, banking, utilities and infrastructure which form the majority of our assets.
Hybrid Capital is a form of bond that falls between senior debt and equity, typically with terms and conditions around the maturity date of the bond which guve the issuer options to defer or skip coupons. Hybrid Capital can offer equity like returns from a debt instrument with predictable returns and quantifiable risks. Most Hybrids are issued by large, well-capitalised companies with investment grade credit ratings.
Hybrid Capital offers
Peter Doherty is interviewed by Nadine Dereza on what hybrid capital is, and his approach to investing.
Download Tideway's Guide to Hybrid Capital (PDF) by clicking the link below.