Bonds Podcasts

Credit Crunch: IR+M’s Gubitosi on Corporates, Securitized Value

In this episode of Credit Crunch, Noel Hubert interviews Jim Gubitosi, co‑CIO of Income Research & Management, about the firm’s evolution from a modest $10 bn AUM boutique to a $130 bn fixed‑income specialist. Gubitosi recounts how the 2007‑08 financial crisis forced the team to dive deep into opaque securitized assets, develop rapid stress‑testing workflows, and ultimately transition distressed holdings into broader credit portfolios. He explains the firm’s current platform, which offers active, customized strategies across the full credit spectrum—from short‑term cash to long‑duration LDI—catering to institutional investors seeking yield, liquidity, and risk‑adjusted performance. The conversation also touches on the recent shift back to core fixed‑income as yields rise and the firm’s active‑management philosophy versus passive benchmarks.