Eun Ah Schittekat, CFA

Experience

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  PwC

  Jan 1999 - May 2001

  Auditors

  Audit on the statutory accounts, annual reports, consolidated accounts, etc … in Belgian Gaap, US Gaap, UK Gaap and IFRS.

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  Petercam Asset Management

  May 2001 - May 2015

  - Responsible for a team of 4 analysts:° Coaching & Training° Responsible for the coherence and the quality of the investment ideas delivered by the team to the portfolios managers and to the other departments (Risk management, Private Banking, …)° Sectors followed: Chemicals (IG&HY), Construction & Materials (IG&HY), Cable&Telecoms (HY), Utilities (IG), Specific HY names, Corporate Hybrids.Analysis methodology: Credit recommendations are primarily driven by fundamental analysis. The objective of this credit analysis is to determine the capacity of the issuer to pay its coupon and repay its debt in time and fully. It consists in assessing the business profile (qualitative analysis) and the financial profile (quantitative analysis through the financial model) of the issuer. Then the structure of each bond is analyzed.1. Business risk profile: Understanding the company’s business allows me to figure out the “big-picture of a company” as a whole. Non-financial risks, such as management issues, changes to a company’s competitive position or a cyclical downturn in a industry are often the leading causes for credit deterioration2. Financial risk profile: is done via an integrated financial model developed by the team (input the historical financial statement of the company, its debt maturity profile, and the available credit lines not drawn and forward looking estimates related to the P/L, B/S and Cash flows side + off-balance adjustments needed to have a complete assessment of the company)=> Based on the business profile and the financial profile, I have an opinion about the current credit fundamental of the issuer, and its expected development.3. Structural risk: The analysis of the capital structure leads to the understanding where the bond is positioned in the capital structure. I – as bondholder – want to assess what we will get back in the event of a default. This analysis focuses on the existence of subordination clauses Show less Fixed income analyst for Petercam's funds (bond's side) - give investment recommendations, based on fundamental and relative analysis, within the high-grade and falling angels, high yield bonds, mainly issued in euro denominated currency.Fixed income analyst for the fixed-income funds - give investment recommendations, based on fundamental and relative analysis, within in the Investment Grade as well as High Yield bond markets, issued in euro denominated currency Development of interactions between the analysts and the portfolio managers Generate ideas for the funds’ managers according to their investment criteria’s Sectors followed: Construction, Chemicals, Cable&Telecoms, Financials Show less Fixed income analyst for the front office sales/brokerage - give investment recommendations, based on fundamental and relative analysis, within the high-grade and falling angels bonds, issued in euro denominated currency.- Fully developed the fixed income analysis within Petercam as it was non-existent in 2001:o Analysed issuers through financial valuation and forecasts, business model comprehension and market understanding. Financial valuation is based on publicly available information, brokers research and rating agencies reportso Analysed the issues through relative value analysis (per sector, per rating, per maturity, …)o Expertise in the corporate hybrids market, by understanding the juridical as the credit aspects.- Analysed the bond portfolio of institutional clients and helped them to maximise their return through bond picking- Permanent trainings, by following conferences on different sectors such as Telecoms, Automobiles, Utilities and seminars (Bank credit risk analysis at Moody’s, …) Show less

  • Head of Credit Research - Senior Fixed Income Analyst

    Mar 2010 - May 2015

  • Senior Fixed Income Analyst

    Jan 2008 - Feb 2010

  • Fixed Income Analyst

    May 2001 - Dec 2007
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  Mercier Vanderlinden

  Jun 2015 - Jan 2024

  Senior Fixed Income Analyst and as Co-Manager of the fixed income part of the Patrimonium fund.

  • Co-Fund Manager - Patrimonium

    Jan 2020 - Jan 2024

  • Senior Fixed Income Analyst

    Jun 2015 - Jan 2024
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  Mercier Van Lanschot

  Jan 2024 - now

  Portfolio Manager / Fixed Income analyst

  Head of ‘convictions’ bond selection - HY focus