Financing alternatives for SMEs are in demand: mid-market bonds

London, 20 May 2023. European SMEs are under immense pressure. With interest rates making a comeback, more expensive credit and refinancing terms are weighing on corporate balance sheets at a time when banks have withdrawn from the financing business and recession worries are on the rise again. In the new market regime for the financing side of mid-market companies, “mid-market bonds” with strict local regulations could become an important alternative. The article written by Mark Hoffmann and Dieter Kaiser was published in the “Financing Mid-Market Companies” supplement of the Börsen-Zeitung on May 20, 2023. Please read the full article [Available only in German] here.

Deceptive spring fever in capital markets: It will not work without a recession

London, 14 March 2023. The capital market year promises spring fever, which Mark Hoffmann, Portfolio Manager at Robus Capital, assesses as deceptive. Consumer confidence has proven more robust than suspected during the holiday shopping season, and energy prices are increasingly easing as well. “It’s too early for spring sentiment. In the U.S. and Europe, inflation is continuously weighing on high levels. Even if central banks are still acting cautiously in view of the fragile economy, they will solve the problem. It remains to be seen when, but they will certainly act with all the necessary rigor. It won’t work without a recession,” says Hoffmann. The full Press Release can be found here.

European high-yield markets between apocalypse and euphoria

London, 13 February 2023. Robus Capital experts see little consensus in expectations for European high-yield markets in 2023. Performance estimates ranged from -8 percent to +15 percent, compared to a maximum of 2 percent to 3 percent in the past. “Even if a recession in some key European countries can actually be avoided at the last minute, there is still quite a bit of sand in the gears. Supply chains are still not back on track and the energy issue is not off the table either, despite the mild winter. The bottom line could be a positive return of 6-7 percent, but we don’t believe in a return to a linear development like in the past years,” says Mark Hoffmann, portfolio manager at Robus Capital. The full Press Release can be found here.

Robus Capital talks to Citywire

Frankfurt, 07. Februar 2023. Mark Hoffmann, Portfolio Manager at Robus Capital, answered Lukas Kümmerle’s questions in a video interview with Citywire Germany. Mark Hoffmann explains the background of the performance of the Robus Mid-Market Value Bond Fund in 2022, gives an insight into the current direction of the portfolio as well as an outlook for 2023. Ses the full interview here.

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