Beyond performance: curiosity, responsibility, and the discipline to see ideas through.
Performance is essential in fixed income. But at UBP, what sustains long-term results goes deeper than markets and metrics. It is a mindset shaped by curiosity, responsibility, collaboration, and the determination to see ideas through from conviction to implementation.
We asked members of our Global & Absolute Return Fixed Income team a simple question:
"What drives you every day?"
Their answers reveal a shared sense of purpose that goes beyond performance alone.
A sense of duty at the heart of fixed income
For Philippe Gräub, Head of Global & Absolute Return Fixed Income, motivation begins with curiosity – but it does not end there.
“Curiosity is a drive,” he explains. “Trying to understand things – not only observing them, but understanding them. An interest in macroeconomics is one thing, but the major drive is a sense of duty. Because we have responsibilities. Very important responsibilities. To the firm, to the family, to the clients. And that’s what makes me wake up every morning with energy. A sense of duty.”
“Curiosity is a drive"
In fixed income, understanding the macroeconomic environment is vital. Inflation, growth, monetary policy, geopolitical developments – these forces shape bond markets in profound ways. But technical expertise alone is not enough. What Philippe describes is a disciplined awareness that investment decisions carry consequences. Managing portfolios is a responsibility towards clients who rely on the team’s judgement and consistency. That awareness creates focus and reinforces high standards. It underpins the culture of accountability that defines the team’s approach.
Seeing the full investment process through
For Mohammed Kazmi, Chief Strategist & Senior Portfolio Manager in Global & Absolute Return Fixed Income, what drives him is the ability to connect ideas to outcomes across the entire investment chain.
“What drives me is the fact that I’m seeing the whole process through. We think about the overall market environment – the big picture, macro, where we are in the world. Then we translate those views into positions across the fund range. And with those positions, we are also communicating with clients: what we’re thinking, what we’re doing, what we’re trying to achieve. The idea of being able to see the full process through from start to finish is really quite rewarding.”
“What drives me is the fact that I’m seeing the whole process through. We think about the overall market environment – the big picture, macro, where we are in the world."
This end-to-end involvement reflects the integrated nature of the team. Strategic views are not developed in isolation. They are debated, refined, and expressed in portfolios. Those portfolios are then explained transparently to clients. In this continuous loop, analysis informs positioning; positioning informs dialogue; dialogue, in turn, sharpens thinking.
Curiosity in a changing world
Markets evolve. New technologies, new business models, and new risks continually reshape the investment landscape. For Thibault Colle, Head of Corporate Debt and Senior Portfolio Manager, the opportunity to explore these shifts is a key source of motivation.
‘What drives me the most is learning new things – discovering new ideas and new themes in the market. For example, we are living through the age of AI. There are many sub-themes within that. There is so much potential, yet many areas remain opaque or unclear to market participants. The opportunity to study that, to immerse yourself in it, to develop your own perspective – and then implement that through investments – is very exciting.’
"What drives me the most is learning new things – discovering new ideas and new themes in the market."
Credit markets require deep, bottom-up analysis. Understanding corporate balance sheets, sector dynamics, and long-term structural trends is essential. Themes such as artificial intelligence do not simply generate headlines; they influence capital expenditure, competitive positioning, and funding needs across industries. For Thibault, the intellectual challenge lies in separating promise from reality. Curiosity becomes a practical tool: asking questions, testing assumptions, and forming differentiated views. The excitement he describes is not speculative enthusiasm, but the disciplined exploration of change.
In fixed income, innovation must be balanced with prudence. Learning never stops.
Expertise and purpose, side by side
Across these perspectives, a common thread emerges:
- Curiosity.
- Responsibility.
- Commitment to process.
- The discipline to translate ideas into action.
The Fixed Income team operates in markets that are complex and constantly evolving. Success requires technical expertise, rigorous debate, and a structured investment framework. But it also requires the internal drive to uphold standards, to remain accountable, and to keep questioning assumptions.
At UBP, this drive is rooted in our culture and values – conviction, agility, responsibility, and dedication. It shapes how teams collaborate. It informs how portfolios are constructed and underpins how we engage with clients. Fixed income investing is often associated with stability and discipline. Those qualities matter. Behind them stands a team who are motivated not only by performance targets, but by purpose.
They seek to understand rather than simply observe, follow ideas through from macro insight to portfolio implementation, and embrace new themes with intellectual rigour. That combination of expertise and intent is what sustains long-term thinking in an asset class defined by cycles and uncertainty.
It is also what we mean by The drive you demand.
Marketing communication. For Professional Investors in Switzerland or Professional Investors as defined by the relevant laws. Past performance is not a guide for current or futures results.
The views and opinions expressed by fund managers (internal or external) may differ from the house view. They are shared for informational purposes and do not constitute investment advice or a recommendation.
