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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Fundamentals of fixed income investing highlighted at MCICAI webinar

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MUSCAT: The Muscat Chapter of Chartered Accountants of India (MCICAI) held a webinar on the theme, ‘Stable income in an unstable world: Fixed income fundamentals and opportunities’, on Saturday.


It was presented by Sanjay Guglani (pictured), founder and Chief Investment Officer of Singapore-based Silverdale Capital Pte Ltd.


Guglani said: “In today’s hyper-connected world, news and reactions travel faster than reasoning and fundamentals.


It took less than 72 hours for Silicon Valley Bank with $211 billion of assets to collapse. It took less than 48 hours for Signature Bank with $110 billion of assets to crumble.


It took less than 16 hours for 167-year-old Credit Suisse Bank with over $1.5 trillion of assets to fall down. UBS took over Credit Suisse practically for free, wiping out $35 billion of equity and $15 billion of AT-1 bonds. And it took less than 8 hours to recoup over $25 billion of CS bonds mark-to-market (MTM) losses.


This proved once again: volatility is friend of an investor, an enemy of a speculator, and importantly that fortune favours the prepared.”


MCICAI invited Guglani to explain how to “lock-in” the prevalent higher interest rates while navigating treacherous volatility of the markets and share his views on interest rate outlook, and learnings from collapse of Silicon Valley Bank (SVB) and Credit Suisse.


Sajeev Surendran, chairman of Muscat Chapter of ICAI, said: “It is a privilege to bring to our fellow-members and friends cutting-edge insight from Sanjay Guglani, who has once again proved unique insights chartered accountants bring to the investment world. I would like to thank all my colleagues and our sponsors for their untiring support to create such wonderful events.


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