{"id":3250,"date":"2024-06-21T14:25:54","date_gmt":"2024-06-21T12:25:54","guid":{"rendered":"https:\/\/ha-gim.com\/newsroom\/"},"modified":"2026-10-15T12:26:50","modified_gmt":"2026-10-15T10:26:50","slug":"newsroom","status":"publish","type":"page","link":"https:\/\/ha-gim.com\/en\/newsroom\/","title":{"rendered":"Newsroom"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; custom_padding_last_edited=&#8221;on|phone&#8221; _builder_version=&#8221;4.25.2&#8243; _module_preset=&#8221;default&#8221; use_background_color_gradient=&#8221;on&#8221; background_color_gradient_stops=&#8221;rgba(0,0,0,0.1) 2%|rgba(0,0,0,0.1) 98%&#8221; background_color_gradient_overlays_image=&#8221;on&#8221; background_image=&#8221;https:\/\/ha-gim.com\/wp-content\/uploads\/2024\/07\/News-Header.webp&#8221; height=&#8221;100vh&#8221; height_tablet=&#8221;90vh&#8221; height_phone=&#8221;90vh&#8221; height_last_edited=&#8221;on|phone&#8221; custom_padding=&#8221;250px||250px||true|false&#8221; custom_padding_tablet=&#8221;200px||200px||true|false&#8221; custom_padding_phone=&#8221;100px||100px||true|false&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row _builder_version=&#8221;4.25.1&#8243; _module_preset=&#8221;default&#8221; background_enable_color=&#8221;off&#8221; positioning=&#8221;absolute&#8221; position_origin_a=&#8221;center_center&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.24.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.27.0&#8243; _module_preset=&#8221;default&#8221; header_text_align=&#8221;center&#8221; header_font_size=&#8221;70px&#8221; background_layout=&#8221;dark&#8221; border_width_bottom=&#8221;2px&#8221; border_color_bottom=&#8221;#93642e&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h1>HAGIM News\u00adroom<\/h1>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.25.2&#8243; _module_preset=&#8221;default&#8221; header_2_font=&#8221;Celia &#8211; regular||||||||&#8221; text_orientation=&#8221;center&#8221; background_layout=&#8221;dark&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2>Keep up to date with HAGIM!<\/h2>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.24.0&#8243; _module_preset=&#8221;default&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row _builder_version=&#8221;4.27.9&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;||0px||false|false&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.24.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.27.9&#8243; _module_preset=&#8221;default&#8221; text_text_color=&#8221;#000000&#8243; text_orientation=&#8221;center&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<p>Through our various publications, our portfolio managers and product specialists<br \/>take a close look at current developments and market trends.<\/p>\n<p>[\/et_pb_text][et_pb_divider _builder_version=&#8221;4.24.0&#8243; _module_preset=&#8221;default&#8221; custom_margin=&#8221;||||false|false&#8221; custom_padding=&#8221;||||false|false&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_divider][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.25.2&#8243; _module_preset=&#8221;default&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row _builder_version=&#8221;4.27.9&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;0px||||false|false&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.25.2&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.27.9&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;]    <style id=\"wh-hagim-newsroom-css\">\n        .hagim-newsroom,\n        .hagim-newsroom * { box-sizing: border-box; }\n        .hagim-newsroom {\n            --hagim-black: #1e1e1e;\n            --hagim-gold: #93642e;\n            --hagim-white: #ffffff;\n            --hagim-light: #f2f2f2;\n            --hagim-muted: #6c6c6c;\n            width: 100%;\n            color: var(--hagim-black);\n        }\n        .hagim-newsroom [hidden] { display: none !important; }\n        .hagim-newsroom__filters {\n            margin: 0 0 28px;\n            display: grid;\n            grid-template-columns: minmax(190px, 230px) minmax(240px, 300px) auto 1fr;\n            gap: 34px;\n            align-items: end;\n        }\n        .hagim-newsroom__field label {\n            display: block;\n            margin: 0 !important;\n            color: var(--hagim-black);\n            font-size: 16px;\n            font-weight: 700;\n            line-height: 1.35;\n        }\n        .hagim-newsroom__select-wrap {\n            position: relative;\n            border-bottom: 2px solid var(--hagim-gold);\n        }\n        .hagim-newsroom__select-wrap::after {\n            content: \"\";\n            width: 8px;\n            height: 8px;\n            position: absolute;\n            right: 4px;\n            top: 50%;\n            border-right: 2px solid #8b8b8b;\n            border-bottom: 2px solid #8b8b8b;\n            transform: translateY(-70%) rotate(45deg);\n            pointer-events: none;\n            transition: transform 160ms ease;\n        }\n        .hagim-newsroom__select-wrap.is-open::after {\n            transform: translateY(-20%) rotate(225deg);\n        }\n        .hagim-newsroom__select {\n            width: 1px !important;\n            height: 1px !important;\n            padding: 0 !important;\n            position: absolute !important;\n            overflow: hidden !important;\n            clip: rect(0 0 0 0) !important;\n            clip-path: inset(50%) !important;\n            white-space: nowrap !important;\n            border: 0 !important;\n        }\n        .hagim-newsroom__select-trigger {\n            width: 100%;\n            min-height: 38px;\n            display: flex !important;\n            align-items: center;\n            padding: 4px 30px 4px 0 !important;\n            color: var(--hagim-black) !important;\n            background: transparent !important;\n            border: 0 !important;\n            border-radius: 0 !important;\n            box-shadow: none !important;\n            cursor: pointer;\n            font-size: 15px;\n            font-weight: 400 !important;\n            line-height: 1.4;\n            text-align: left;\n        }\n        .hagim-newsroom__select-options {\n            width: 100%;\n            max-height: 280px;\n            padding: 6px !important;\n            position: absolute;\n            z-index: 9999;\n            top: calc(100% + 7px);\n            left: 0;\n            overflow-y: auto;\n            color: var(--hagim-black);\n            background: var(--hagim-white);\n            border: 1px solid rgba(147, 100, 46, 0.34);\n            border-top: 3px solid var(--hagim-gold);\n            border-radius: 0;\n            box-shadow: 0 14px 34px rgba(30, 30, 30, 0.16);\n        }\n        .hagim-newsroom__select-option {\n            width: 100%;\n            min-height: 39px;\n            display: block !important;\n            padding: 8px 10px !important;\n            color: var(--hagim-black) !important;\n            background: var(--hagim-white) !important;\n            border: 0 !important;\n            border-radius: 0 !important;\n            box-shadow: none !important;\n            cursor: pointer;\n            font-size: 15px;\n            font-weight: 400 !important;\n            line-height: 1.4;\n            text-align: left;\n        }\n        .hagim-newsroom__select-option:hover,\n        .hagim-newsroom__select-option:focus-visible {\n            color: var(--hagim-black) !important;\n            background: #f4eee8 !important;\n        }\n        .hagim-newsroom__select-option[aria-selected=\"true\"] {\n            color: var(--hagim-gold) !important;\n            background: #f4eee8 !important;\n            font-weight: 700 !important;\n        }\n        .hagim-newsroom__select-trigger:focus-visible,\n        .hagim-newsroom__select-option:focus-visible,\n        .hagim-newsroom button:focus-visible,\n        .hagim-newsroom a:focus-visible {\n            outline: 3px solid rgba(147, 100, 46, 0.34);\n            outline-offset: 3px;\n        }\n        .hagim-newsroom__reset,\n        .hagim-newsroom__less,\n        .hagim-newsroom__empty-reset {\n            padding: 0 !important;\n            color: var(--hagim-gold) !important;\n            background: transparent !important;\n            border: 0 !important;\n            border-bottom: 1px solid currentColor !important;\n            border-radius: 0 !important;\n            cursor: pointer;\n            font-size: 14px;\n            line-height: 1.45;\n        }\n        .hagim-newsroom__reset {\n            min-height: 38px;\n            align-self: end;\n        }\n        .hagim-newsroom__count {\n            margin: 0 0 9px !important;\n            justify-self: end;\n            color: var(--hagim-muted);\n            font-size: 13px;\n            line-height: 1.3;\n        }\n        .hagim-newsroom__grid {\n            display: grid;\n            grid-template-columns: repeat(4, minmax(0, 1fr));\n            gap: 34px 30px;\n        }\n        .hagim-newsroom__card {\n            min-width: 0;\n            display: flex;\n            flex-direction: column;\n            color: var(--hagim-black) !important;\n            background: var(--hagim-light);\n            box-shadow: 0 6px 15px rgba(30, 30, 30, 0.2);\n            text-decoration: none !important;\n            transition: transform 180ms ease, box-shadow 180ms ease;\n        }\n        .hagim-newsroom__card:hover {\n            transform: translateY(-4px);\n            box-shadow: 0 11px 24px rgba(30, 30, 30, 0.24);\n        }\n        .hagim-newsroom__image {\n            width: 100% !important;\n            aspect-ratio: 16 \/ 7;\n            display: block;\n            object-fit: cover;\n        }\n        .hagim-newsroom__image--fallback {\n            display: grid;\n            place-items: center;\n            color: var(--hagim-white);\n            background: linear-gradient(135deg, #2b2b2b, var(--hagim-black));\n            border-bottom: 3px solid var(--hagim-gold);\n            font-size: 18px;\n            font-weight: 700;\n            letter-spacing: 0.12em;\n        }\n        .hagim-newsroom__card-content {\n            min-height: 176px;\n            padding: 13px 14px 17px;\n            display: flex;\n            flex-direction: column;\n        }\n        .hagim-newsroom__card h2 {\n            margin: 0 0 3px !important;\n            padding: 0 !important;\n            color: var(--hagim-black) !important;\n            font-family: \"Celia\", Arial, sans-serif !important;\n            font-size: 17px !important;\n            font-weight: 700 !important;\n            line-height: 1.2 !important;\n        }\n        .hagim-newsroom__meta {\n            margin: 0 0 8px !important;\n            color: var(--hagim-muted);\n            font-size: 12px;\n            line-height: 1.25;\n        }\n        .hagim-newsroom__excerpt {\n            margin: 0 !important;\n            display: -webkit-box;\n            overflow: hidden;\n            color: var(--hagim-black);\n            font-size: 14px;\n            line-height: 1.35;\n            -webkit-line-clamp: 4;\n            -webkit-box-orient: vertical;\n       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border: 1px solid var(--hagim-black) !important;\n            border-radius: 4px !important;\n            box-shadow: 0 3px 7px rgba(30, 30, 30, 0.25);\n            cursor: pointer;\n            font-size: 15px;\n            line-height: 1.3;\n            transition: color 180ms ease, background 180ms ease;\n        }\n        .hagim-newsroom__more:hover {\n            color: var(--hagim-black) !important;\n            background: var(--hagim-white) !important;\n        }\n        .hagim-newsroom__less {\n            grid-column: 3;\n            justify-self: end;\n            margin-top: 13px;\n        }\n        .hagim-newsroom__setup-error {\n            padding: 18px;\n            color: #7a1010;\n            background: #fff0f0;\n            border-left: 4px solid #7a1010;\n        }\n        @media (max-width: 980px) {\n            .hagim-newsroom__filters {\n                grid-template-columns: minmax(190px, 1fr) minmax(220px, 1fr);\n                gap: 22px 28px;\n            }\n            .hagim-newsroom__reset { justify-self: start; }\n            .hagim-newsroom__count { justify-self: end; }\n            .hagim-newsroom__grid { grid-template-columns: repeat(2, minmax(0, 1fr)); }\n        }\n        @media (max-width: 640px) {\n            .hagim-newsroom__filters {\n                grid-template-columns: 1fr;\n                gap: 20px;\n            }\n            .hagim-newsroom__reset,\n            .hagim-newsroom__count { justify-self: start; }\n            .hagim-newsroom__grid {\n                grid-template-columns: 1fr;\n                gap: 26px;\n            }\n            .hagim-newsroom__card-content { min-height: 160px; }\n            .hagim-newsroom__actions {\n                grid-template-columns: 1fr;\n                justify-items: center;\n                gap: 22px;\n            }\n            .hagim-newsroom__more,\n            .hagim-newsroom__less { grid-column: 1; }\n            .hagim-newsroom__less {\n                justify-self: center;\n                margin-top: 0;\n            }\n        }\n        @media (prefers-reduced-motion: reduce) {\n            .hagim-newsroom *,\n            .hagim-newsroom *::before,\n            .hagim-newsroom *::after {\n                scroll-behavior: auto !important;\n                transition-duration: 0.01ms !important;\n            }\n        }\n    <\/style>\n    <script id=\"wh-hagim-newsroom-js\">\n        (function () {\n            function initNewsroom(root) {\n                if (root.dataset.ready === 'true') return;\n                root.dataset.ready = 'true';\n\n                var topicFilter = root.querySelector('[data-filter=\"topic\"]');\n                var typeFilter = root.querySelector('[data-filter=\"type\"]');\n                var cards = Array.prototype.slice.call(root.querySelectorAll('.hagim-newsroom__card'));\n                var count = root.querySelector('.hagim-newsroom__count');\n                var empty = root.querySelector('.hagim-newsroom__empty');\n                var grid = root.querySelector('.hagim-newsroom__grid');\n                var more = root.querySelector('.hagim-newsroom__more');\n                var less = root.querySelector('.hagim-newsroom__less');\n                var reset = root.querySelector('.hagim-newsroom__reset');\n                var emptyReset = root.querySelector('.hagim-newsroom__empty-reset');\n                var filters = root.querySelector('.hagim-newsroom__filters');\n                var initial = Math.max(1, Number(root.dataset.initial) || 8);\n                var step = Math.max(1, Number(root.dataset.step) || 4);\n                var visibleLimit = initial;\n                var customSelectSyncers = [];\n\n                function closeCustomSelect(wrap, returnFocus) {\n                    var trigger = wrap.querySelector('.hagim-newsroom__select-trigger');\n                    var options = wrap.querySelector('.hagim-newsroom__select-options');\n    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                 wrap.querySelectorAll('.hagim-newsroom__select-option')\n                    );\n\n                    function sync() {\n                        var selected = optionButtons.find(function (option) {\n                            return option.dataset.value === nativeSelect.value;\n                        }) || optionButtons[0];\n\n                        value.textContent = selected.textContent;\n                        optionButtons.forEach(function (option) {\n                            option.setAttribute(\n                                'aria-selected',\n                                option.dataset.value === nativeSelect.value ? 'true' : 'false'\n                            );\n                        });\n                    }\n\n                    function openSelect(focusTarget) {\n                        closeOtherSelects(wrap);\n                        wrap.classList.add('is-open');\n                        trigger.setAttribute('aria-expanded', 'true');\n                        options.hidden = false;\n\n                        if (focusTarget) {\n                            var selectedIndex = optionButtons.findIndex(function (option) {\n                                return option.dataset.value === nativeSelect.value;\n                            });\n                            var targetIndex = focusTarget === 'last'\n                                ? optionButtons.length - 1\n                                : Math.max(0, selectedIndex);\n                            optionButtons[targetIndex].focus();\n                        }\n                    }\n\n                    trigger.addEventListener('click', function () {\n                        if (wrap.classList.contains('is-open')) {\n                            closeCustomSelect(wrap, false);\n                        } else {\n                            openSelect(false);\n                        }\n                    });\n\n                    trigger.addEventListener('keydown', function (event) {\n                        if (event.key === 'ArrowDown' || event.key === 'ArrowUp') {\n                            event.preventDefault();\n                            openSelect(event.key === 'ArrowUp' ? 'last' : 'selected');\n                        }\n                    });\n\n                    optionButtons.forEach(function (option, index) {\n                        option.addEventListener('click', function () {\n                            nativeSelect.value = option.dataset.value;\n                            sync();\n                            closeCustomSelect(wrap, true);\n                            nativeSelect.dispatchEvent(new Event('change', { bubbles: true }));\n                        });\n\n                        option.addEventListener('keydown', function (event) {\n                            var targetIndex = index;\n\n                            if (event.key === 'ArrowDown') targetIndex = (index + 1) % optionButtons.length;\n                            if (event.key === 'ArrowUp') targetIndex = (index - 1 + optionButtons.length) % optionButtons.length;\n                            if (event.key === 'Home') targetIndex = 0;\n                            if (event.key === 'End') targetIndex = optionButtons.length - 1;\n\n                            if (targetIndex !== index) {\n                                event.preventDefault();\n                                optionButtons[targetIndex].focus();\n                            }\n\n                            if (event.key === 'Escape') {\n                                event.preventDefault();\n                                closeCustomSelect(wrap, true);\n                            }\n                        });\n                    });\n\n                    wrap.addEventListener('focusout', function () {\n                        window.setTimeout(function () {\n                            if (!wrap.contains(document.activeElement)) closeCustomSelect(wrap, false);\n                        }, 0);\n                    });\n\n                    nativeSelect.addEventListener('change', sync);\n                    customSelectSyncers.push(sync);\n                    sync();\n                }\n\n                root.querySelectorAll('[data-custom-select]').forEach(initCustomSelect);\n\n                document.addEventListener('click', function (event) {\n                    if (!root.contains(event.target) || !event.target.closest('[data-custom-select]')) {\n                        closeOtherSelects(null);\n                    }\n                });\n\n                function containsSlug(card, attribute, selected) {\n                    if (selected === 'all') return true;\n                    return (card.getAttribute(attribute) || '').split(' ').indexOf(selected) !== -1;\n                }\n\n                function getMatchingCards() {\n                    return cards.filter(function (card) {\n                        var matchesTopic = card.getAttribute('data-topic-optional') === 'true'\n                            || containsSlug(card, 'data-topics', topicFilter.value);\n\n                        return matchesTopic\n                            && containsSlug(card, 'data-types', typeFilter.value);\n                    });\n                }\n\n                function render() {\n                    var matching = getMatchingCards();\n                    var visibleMatching = matching.slice(0, visibleLimit);\n\n                    cards.forEach(function (card) { card.hidden = true; });\n                    visibleMatching.forEach(function (card) { card.hidden = false; });\n\n                    var noun = matching.length === 1 ? root.dataset.single : root.dataset.plural;\n                    count.textContent = visibleMatching.length < matching.length\n                        ? visibleMatching.length + ' ' + root.dataset.of + ' ' + matching.length + ' ' + noun\n                        : matching.length + ' ' + noun;\n\n                    var hasFilters = topicFilter.value !== 'all' || typeFilter.value !== 'all';\n                    reset.hidden = !hasFilters;\n                    empty.hidden = matching.length !== 0;\n                    grid.hidden = matching.length === 0;\n                    more.hidden = matching.length === 0 || visibleMatching.length >= matching.length;\n                    less.hidden = matching.length === 0 || visibleLimit <= initial;\n                }\n\n                function filterChanged() {\n                    visibleLimit = initial;\n                    render();\n                }\n\n                function resetFilters() {\n                    topicFilter.value = 'all';\n                    typeFilter.value = 'all';\n                    visibleLimit = initial;\n                    customSelectSyncers.forEach(function (sync) { sync(); });\n                    render();\n                    var firstTrigger = root.querySelector('.hagim-newsroom__select-trigger');\n                    if (firstTrigger) firstTrigger.focus();\n                }\n\n                topicFilter.addEventListener('change', filterChanged);\n                typeFilter.addEventListener('change', filterChanged);\n                reset.addEventListener('click', resetFilters);\n                emptyReset.addEventListener('click', resetFilters);\n\n                more.addEventListener('click', function () {\n                    var previouslyVisible = Math.min(visibleLimit, getMatchingCards().length);\n                    visibleLimit += step;\n                    render();\n                    var nowVisible = getMatchingCards().filter(function (card) { return !card.hidden; });\n                    if (nowVisible[previouslyVisible]) nowVisible[previouslyVisible].focus({ preventScroll: true });\n                });\n\n                less.addEventListener('click', function () {\n                    visibleLimit = initial;\n                    render();\n                    filters.scrollIntoView({ behavior: 'smooth', block: 'start' });\n                });\n\n                render();\n            }\n\n            function initAll() {\n                document.querySelectorAll('.hagim-newsroom').forEach(initNewsroom);\n            }\n\n            if (document.readyState === 'loading') {\n                document.addEventListener('DOMContentLoaded', initAll);\n            } else {\n                initAll();\n            }\n        }());\n    <\/script>\n        <section\n        id=\"hagim-newsroom-2\"\n        class=\"hagim-newsroom\"\n        lang=\"en\"\n        data-initial=\"8\"\n        data-step=\"4\"\n        data-single=\"post\"\n        data-plural=\"posts\"\n        data-of=\"of\"\n        aria-label=\"HAGIM Newsroom\"\n    >\n        <div class=\"hagim-newsroom__filters\">\n            <div class=\"hagim-newsroom__field\">\n                <label for=\"hagim-newsroom-2-topic-trigger\">Topic<\/label>\n                <div class=\"hagim-newsroom__select-wrap\" data-custom-select>\n                    <select id=\"hagim-newsroom-2-topic\" class=\"hagim-newsroom__select\" data-filter=\"topic\" tabindex=\"-1\" aria-hidden=\"true\">\n                        <option value=\"all\">All topics<\/option>\n                                                    <option value=\"high-yield\">High Yield<\/option>\n                                                    <option value=\"investment-grade\">Investment Grade<\/option>\n                                                    <option value=\"emerging-markets\">Emerging Markets<\/option>\n                                                    <option value=\"private-markets\">Private Markets<\/option>\n                                                    <option value=\"multi-asset-credit\">Multi Asset Credit<\/option>\n                                            <\/select>\n                    <button\n                        id=\"hagim-newsroom-2-topic-trigger\"\n                        class=\"hagim-newsroom__select-trigger\"\n                        type=\"button\"\n                        aria-haspopup=\"listbox\"\n                        aria-expanded=\"false\"\n                        aria-controls=\"hagim-newsroom-2-topic-options\"\n                    ><span class=\"hagim-newsroom__select-value\">All topics<\/span><\/button>\n                    <div id=\"hagim-newsroom-2-topic-options\" class=\"hagim-newsroom__select-options\" role=\"listbox\" hidden>\n                        <button class=\"hagim-newsroom__select-option\" type=\"button\" role=\"option\" data-value=\"all\" aria-selected=\"true\">All topics<\/button>\n                                                    <button class=\"hagim-newsroom__select-option\" type=\"button\" role=\"option\" data-value=\"high-yield\" aria-selected=\"false\">High Yield<\/button>\n                                                    <button class=\"hagim-newsroom__select-option\" type=\"button\" role=\"option\" data-value=\"investment-grade\" aria-selected=\"false\">Investment Grade<\/button>\n                                                    <button 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class=\"hagim-newsroom__select\" data-filter=\"type\" tabindex=\"-1\" aria-hidden=\"true\">\n                        <option value=\"all\">All publications<\/option>\n                                                    <option value=\"cio-perspective\">CIO Perspective<\/option>\n                                                    <option value=\"event\">Event<\/option>\n                                                    <option value=\"press-release\">Press Release<\/option>\n                                                    <option value=\"specialist-article\">Specialist Article<\/option>\n                                            <\/select>\n                    <button\n                        id=\"hagim-newsroom-2-type-trigger\"\n                        class=\"hagim-newsroom__select-trigger\"\n                        type=\"button\"\n                        aria-haspopup=\"listbox\"\n                        aria-expanded=\"false\"\n                        aria-controls=\"hagim-newsroom-2-type-options\"\n                    ><span class=\"hagim-newsroom__select-value\">All publications<\/span><\/button>\n                    <div id=\"hagim-newsroom-2-type-options\" class=\"hagim-newsroom__select-options\" role=\"listbox\" hidden>\n                        <button class=\"hagim-newsroom__select-option\" type=\"button\" role=\"option\" data-value=\"all\" aria-selected=\"true\">All publications<\/button>\n                                                    <button class=\"hagim-newsroom__select-option\" type=\"button\" role=\"option\" data-value=\"cio-perspective\" aria-selected=\"false\">CIO Perspective<\/button>\n                                                    <button class=\"hagim-newsroom__select-option\" type=\"button\" role=\"option\" data-value=\"event\" aria-selected=\"false\">Event<\/button>\n                                                    <button class=\"hagim-newsroom__select-option\" type=\"button\" role=\"option\" data-value=\"press-release\" aria-selected=\"false\">Press Release<\/button>\n                                                    <button class=\"hagim-newsroom__select-option\" type=\"button\" role=\"option\" data-value=\"specialist-article\" aria-selected=\"false\">Specialist Article<\/button>\n                                            <\/div>\n                <\/div>\n            <\/div>\n\n            <button class=\"hagim-newsroom__reset\" type=\"button\" hidden>Reset filters<\/button>\n            <p class=\"hagim-newsroom__count\" aria-live=\"polite\"><\/p>\n        <\/div>\n\n        <div class=\"hagim-newsroom__grid\" aria-live=\"polite\">\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/rethinking-high-yield-hagim-gmbh-launches-an-actively-managed-public-fund-for-institutional-investors\/\"\n                    data-topics=\"\"\n                    data-types=\"press-release\"\n                    data-topic-optional=\"true\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2026\/09\/FFM-Hochhaeuser-768x432.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>Rethinking High Yield: HAGIM GmbH launches an actively managed UCITS Fund for Institutional Investors<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            October 15, 2026 | Press Release                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">Frankfurt am Main, October 15, 2026 \u2013 HAGIM GmbH is launching a new UCITS fund for Institutional Investors with the HAGIM High Yield DM Plus (ISINs: DE000A4207N7, DE000A4207M9, DE000A4207P2). The fund\u2019s objective is to generate a risk-adjusted excess return over the long term, independent of short-term fluctuations, through active bond selection within the high yield universe.<\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/automotive-sector-the-clock-is-ticking\/\"\n                    data-topics=\"investment-grade\"\n                    data-types=\"specialist-article\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2026\/10\/Header-Webseite-768x432.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>Automotive Sector: The Clock Is Ticking<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            October 9, 2026 | Investment Grade                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">German automakers have not yet been able to stabilize their profitability. For now, most are offsetting the rising business risk with robust balance sheets\u2014but they must use this time to make structural adjustments. <\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/10-reasons-to-rethink-high-yield\/\"\n                    data-topics=\"high-yield\"\n                    data-types=\"specialist-article\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2026\/10\/Webseite-Header-768x432.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>10 Reasons to Rethink HIGH YIELD<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            October 8, 2026 | High Yield                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">The European high-yield market has undergone a fundamental transformation over the past 15 years: what was once a procyclical yield niche has evolved into a mature, diversified institutional asset class.  <\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/the-new-divergence-in-credit\/\"\n                    data-topics=\"multi-asset-credit\"\n                    data-types=\"specialist-article\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2023\/12\/Globus-2-768x432.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>The New Divergence in Credit<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            July 3, 2026 | Multi Asset Credit                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">Rather than geopolitical risks or growth concerns, another trend is currently shaping the credit markets: the growing divergence between government and corporate balance sheets. While many governments continue to increase their debt, companies are responding to higher financing costs with balance-sheet discipline and debt reduction.<\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/rethinking-high-yield\/\"\n                    data-topics=\"high-yield\"\n                    data-types=\"specialist-article\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2026\/05\/Europa-1-1-768x432.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>Rethinking High Yield<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            May 7, 2026 | High Yield                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">Over the past decade and a half, the European high-yield market has undergone a structural transformation that has rendered its traditional classification as a procyclical yield niche obsolete.<\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/where-oil-price-risk-is-actually-priced-in-credit\/\"\n                    data-topics=\"investment-grade\"\n                    data-types=\"specialist-article\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2026\/03\/Oel-2-768x432.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>Where oil price risk is actually priced in credit<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            March 9, 2026 | Investment Grade                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">The recent escalation in the Middle East, particularly around Iran, has once again put the oil market in the spotlight \u2013 but for credit investors the really relevant question is a different one: Where is oil price risk even compensated for in credit? The answer is neither trivial nor intuitive \u2013 and has direct consequences for portfolio construction.<\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/the-best-high-yield-weve-ever-had\/\"\n                    data-topics=\"high-yield\"\n                    data-types=\"specialist-article\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2026\/02\/Bankenhaus-768x432.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>The best high yield we&#8217;ve ever had!<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            February 25, 2026 | High Yield                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">Credit default rates in high yield are falling and is the market underestimating this development?\n\nA current analysis by Moody\u2019s shows: Credit losses in the Ba, B and Caa rating categories are declining over time. In addition to better rating quality and lower duration, stricter regulation, greater transparency, active central bank interventions and more efficient restructuring have structurally changed the market environment.<\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/optional-morality-the-cool-calculation-in-the-high-yield-market\/\"\n                    data-topics=\"high-yield\"\n                    data-types=\"specialist-article\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2026\/02\/ESG-768x432.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>Optional morality: The cool calculation in the high yield market<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            February 13, 2026 | High Yield                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">Should companies meet the CO2 reduction targets set by sustainability-linked bonds (SLBs), or would it be better to pay a penalty?<\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/when-market-leaders-stumble-dynamics-in-the-advertising-industry\/\"\n                    data-topics=\"investment-grade\"\n                    data-types=\"specialist-article\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2026\/01\/Werbung-768x432.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>When market leaders stumble &#8211; dynamics in the advertising industry<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            January 23, 2026 | Investment Grade                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">Market leadership is not a sure-fire success \u2013 even in supposedly stable sectors such as the advertising industry. What was considered a solid position for years can be eroded by operational weaknesses and strategic mistakes. The latest shifts in the sector show this: Competitive position and credit quality are directly linked. For active credit investors, this results in both risks and opportunities.<\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/investing-in-times-of-convergence-and-regime-change-real-estate-debt-as-a-tailored-component-of-high-yield-portfolios\/\"\n                    data-topics=\"private-markets\"\n                    data-types=\"cio-perspective\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2026\/01\/Immobilien-1-768x432.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>Investing in Times of Convergence and Regime Change: Real Estate Debt as a Tailored Component of High-Yield Portfolios<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            January 22, 2026 | Private Markets                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">The real estate market offers institutional investors a wide range of investment opportunities. In terms of property types, a distinction is made, for example, between office, retail, logistics, industrial, hotel, life sciences, data centers, and residential properties. <\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/senior-secured-high-yield-bonds-more-appearance-than-substance\/\"\n                    data-topics=\"high-yield\"\n                    data-types=\"specialist-article\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2026\/01\/abstrakt-22-768x432.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>Senior secured high-yield bonds: More appearance than substance?<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            January 12, 2026 | High Yield                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">Senior secured high-yield bonds suggest security, but without genuine subordinated debt they often bear the full burden of losses in the event of insolvency. In the European high-yield market, the proportion of secured issues has risen sharply in recent years, which has diluted the economic value of seniority. <\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/focus-on-brazilian-corporate-bonds-an-analysis-of-recent-market-developments\/\"\n                    data-topics=\"emerging-markets\"\n                    data-types=\"specialist-article\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2025\/12\/Brasilien-768x432.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>Focus on Brazilian Corporate Bonds: An Analysis of Recent Market Developments<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            December 16, 2025 | Emerging Markets                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">Brazilian corporate bonds are not benefiting from the strong year in emerging markets. The recent weakness reflects an event that upset the balance in a market where macroeconomic conditions had already been weighing on corporate bonds for some time. <\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/consequences-of-the-structural-convergence-of-emerging-and-developed-market-debt\/\"\n                    data-topics=\"emerging-markets\"\n                    data-types=\"specialist-article\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2025\/12\/EM-Polen-scaled.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>Consequences of the Structural Convergence of Emerging and Developed Market Debt<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            December 11, 2025 | Emerging Markets                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">The traditional segmentation of credit markets into developed markets (DM) and emerging markets (EM) is becoming increasingly out of step with today&#039;s market structures.<\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/divergence-in-the-chemicals-sector\/\"\n                    data-topics=\"multi-asset-credit\"\n                    data-types=\"specialist-article\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2025\/11\/Chemie-768x432.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>Divergence in the chemicals sector<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            November 6, 2025 | Multi Asset Credit                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">Since the middle of the year, the spread difference between EUR investment grade and high yield chemicals has widened significantly. This divergence can be explained fundamentally and opens up selective opportunities.<\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/defensive-sectors-face-challenges-growing-dispersion-among-utilities\/\"\n                    data-topics=\"investment-grade\"\n                    data-types=\"specialist-article\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2025\/11\/Spannung-768x432.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>Defensive sectors face challenges: Growing dispersion among utilities<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            November 4, 2025 | Investment Grade                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">Utility bonds have always been regarded as the epitome of defensive investments. However, this sector is increasingly exposed to a field of tension between regulation, politics and demand. At first glance, this development is hardly visible, but there is growing heterogeneity within the sector.<\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/rising-stars-vs-fallen-angels-new-dynamics-in-the-european-high-yield-market\/\"\n                    data-topics=\"high-yield\"\n                    data-types=\"specialist-article\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2025\/10\/Strene-1-768x432.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>Rising Stars vs. Fallen Angels: New dynamics in the European high-yield market<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            October 8, 2025 | High Yield                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">The European high-yield-market has long experienced a dominant phase of \u201cRising Stars\u201d. This trend will reverse in 2025: Higher refinancing costs and geopolitical risks will lead to more downgrades of \u201cFallen Angels\u201d. Investors must now manage risks more closely.<\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/emerging-markets-bonds-hidden-opportunities-for-investors\/\"\n                    data-topics=\"emerging-markets\"\n                    data-types=\"specialist-article\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2025\/08\/EM-Korea-768x432.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>Emerging Markets Bonds: Hidden Opportunities for Investors<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            August 6, 2025 | Emerging Markets                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">The risk premiums of emerging market bonds are approaching their historic lows, making the market segment appear relatively expensive at first glance. However, those who only look at the surface overlook the fact that the credit quality and resilience of the market have improved noticeably in recent years. At the same time, local growth momentum remains positive.<\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/recap-comparison-of-the-credit-markets-2024-vs-2025\/\"\n                    data-topics=\"investment-grade\"\n                    data-types=\"specialist-article\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2025\/07\/Zeit-1-768x432.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>Recap: Comparison of the credit markets &#8211; 2024 vs. 2025<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            July 18, 2025 | Investment Grade                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">How reliable were our analyses and forecasts in last year\u2019s dynamic market environment? In the following review, our Senior Portfolio Manager Steffen Ullmann takes stock of our assessments in the investment grade market in 2024 in an open and well-founded manner.<\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/energy-service-providers-in-transition-consolidation-should-strengthen-credit-quality\/\"\n                    data-topics=\"investment-grade\"\n                    data-types=\"specialist-article\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2025\/06\/Oel-3-768x432.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>Energy service providers in transition &#8211; consolidation should strengthen credit quality<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            June 11, 2025 | Investment Grade                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">The current weakness in oil is leading to higher risk premiums \u2013 but beneath the surface, the sector is changing fundamentally. The ongoing consolidation in the oil service segment is structurally strengthening business models, improving cash flow quality and creating new investment opportunities. Why selective credit investors should now take a particularly close look.<\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/gold-miners-in-credit-focus-operational-strength-meets-structural-limits\/\"\n                    data-topics=\"investment-grade\"\n                    data-types=\"specialist-article\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2025\/05\/Gold-768x432.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>Gold miners in credit focus: operational strength meets structural limits<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            May 27, 2025 | Investment Grade                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">Gold price at record levels \u2013 but what does this mean for credit quality? While the operating figures of many gold miners are improving in the short term, structural limitations remain.\n\nStrong operating environment, but structural hurdles<\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/25-years-of-the-euro-investment-grade-market-a-european-success-story-with-question-marks\/\"\n                    data-topics=\"investment-grade\"\n                    data-types=\"specialist-article\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2025\/05\/Zeit-2-768x432.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>25 years of the Euro Investment Grade Market: a European success story with question marks<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            May 5, 2025 | Investment Grade                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">It was a time of great hopes and bold visions: When the euro saw the light of day a quarter of a century ago, its architects dreamed of a currency that would stand up to the dollar. Today, 25 years later, the evolution of the euro investment grade market tells a fascinating story \u2013 albeit one with surprising twists and turns and a thoroughly ambivalent finale.<\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/rethinking-credit-a-new-market-regime-requires-new-principles\/\"\n                    data-topics=\"multi-asset-credit\"\n                    data-types=\"specialist-article\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2025\/04\/USA-1-768x432.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>Rethinking credit: A new market regime requires new principles<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            April 28, 2025 | Multi Asset Credit                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">We are not living at the beginning of change, we are deep within it.\n\nApril 2, 2025 will go down in history as a turning point. What was once celebrated as a rules-based, open global trading system is under threat \u2013 pressured by its creator.<\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/eur-credit-bucking-the-trend-but-how-long-will-the-resilience-last\/\"\n                    data-topics=\"investment-grade\"\n                    data-types=\"specialist-article\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2025\/03\/Europa-4-768x432.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>EUR Credit bucking the trend &#8211; but how long will the resilience last?<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            March 24, 2025 | Investment Grade                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">The EUR credit market has recovered significantly since the beginning of the year. Spreads have fallen from 95 basis points to 79 basis points in the meantime \u2013 even geopolitical uncertainties and structural fiscal changes in Germany have not slowed this trend. At the same time, the spread to USD credit markets has narrowed to a historically low level. But is this a sign of strength \u2013 or a warning signal?<\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/end-of-the-reverse-yankee-boom-interest-rate-turnaround-in-europe-changes-the-market-for-euro-us-bonds\/\"\n                    data-topics=\"investment-grade\"\n                    data-types=\"specialist-article\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2025\/03\/USA-4-768x432.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>End of the Reverse Yankee boom? Interest rate turnaround in Europe changes the market for Euro US bonds<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            March 18, 2025 | Investment Grade                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">Reverse Yankees \u2013 Euro bonds issued by US companies \u2013 started the year strongly, but the interest rate turnaround in Europe has put an abrupt end to the boom. The shrinking interest rate differential is making EUR bonds increasingly unattractive as a source of refinancing \u2013 is there now a threat of a lasting market shift?<\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/preference-for-short-and-medium-term-financing-will-companies-bet-on-low-yields-pay-off\/\"\n                    data-topics=\"high-yield\"\n                    data-types=\"specialist-article\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2025\/02\/abstrakt-3-768x432.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>Preference for short and medium-term financing &#8211; Will companies&#8217; bet on low yields pay off?<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            February 27, 2025 | High Yield                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">Following a phase of issuance strikes due to higher interest rates, new issuance of European high-yield bonds is picking up again. However, issuers remain reluctant to commit to the current yield level in the long term and prefer short and medium maturities. Will the bet on further falling yields pay off?<\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/new-issue-premiums-under-pressure-credit-selection-is-becoming-a-decisive-success-factor\/\"\n                    data-topics=\"investment-grade\"\n                    data-types=\"specialist-article\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2025\/02\/abstrakt-6-768x432.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>New issue premiums under pressure &#8211; credit selection is becoming a decisive success factor<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            February 25, 2025 | Investment Grade                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">In recent years, the new issue premium has been a reliable source of returns for bond investors. In the current market environment, this advantage is increasingly disappearing. Especially in these challenging times, active management must demonstrate its added value.<\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/europaeische-hochzinsanleihen-unaufhaltsam-trotz-globaler-unsicherheiten\/\"\n                    data-topics=\"high-yield\"\n                    data-types=\"specialist-article\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2025\/02\/Europa-6-768x432.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>European high yield bonds &#8211; Unstoppable despite global uncertainties<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            February 22, 2025 | High Yield                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">Despite the threat of a trade war, zero growth in Germany and political uncertainty in Europe, the market for high yield corporate bonds is showing remarkable resilience. Risk premiums have been on a downward trend since mid-2022 and spreads for euro high yield bonds have reached their lowest level since mid-2017. But what does this mean for investors?<\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/euro-high-yield-eine-alternative-zum-60-40-portfolio\/\"\n                    data-topics=\"high-yield\"\n                    data-types=\"specialist-article\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"422\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2024\/11\/Header-60-40-Portfolio-768x422.png\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>Euro High Yield &#8211; An alternative to the 60\/40 portfolio<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            November 25, 2024 | High Yield                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">Can high yield corporate bonds keep up with a traditional 60\/40 portfolio? Our analysis shows: since 2003, European high yield bonds have achieved a similar performance to a traditional 60\/40 allocation and with less volatility. A differentiated look at the facts and implications for institutional investors.<\/span>\n                    <\/span>\n                <\/a>\n                                            <a\n                    class=\"hagim-newsroom__card\"\n                    href=\"https:\/\/ha-gim.com\/en\/makrooekonomische-belastungen-und-unternehmensstabilitaet-bbb-anleihen-auf-dem-pruefstand\/\"\n                    data-topics=\"investment-grade\"\n                    data-types=\"specialist-article\"\n                    data-topic-optional=\"false\"\n                >\n                                            <img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/ha-gim.com\/wp-content\/uploads\/2024\/10\/abstrakt-11-768x432.jpg\" class=\"hagim-newsroom__image wp-post-image\" alt=\"\" loading=\"lazy\" \/>                                        <span class=\"hagim-newsroom__card-content\">\n                        <h2>Macroeconomic pressures and corporate stability: BBB bonds under scrutiny<\/h2>\n                        <span class=\"hagim-newsroom__meta\">\n                            October 28, 2024 | Investment Grade                        <\/span>\n                        <span class=\"hagim-newsroom__excerpt\">The upcoming reporting season is an important indicator of whether current company valuations are still justified in the context of a disappointing European economy.<\/span>\n                    <\/span>\n                <\/a>\n                    <\/div>\n\n        <div class=\"hagim-newsroom__empty\" hidden>\n            <h2>No matching posts found<\/h2>\n            <p>Please select another combination or reset the filters.<\/p>\n            <button class=\"hagim-newsroom__empty-reset\" type=\"button\">Show all posts<\/button>\n        <\/div>\n\n        <div class=\"hagim-newsroom__actions\">\n            <button class=\"hagim-newsroom__more\" type=\"button\">Show more<\/button>\n            <button class=\"hagim-newsroom__less\" type=\"button\" hidden>Show less<\/button>\n        <\/div>\n    <\/section>\n    [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row disabled_on=&#8221;off|off|off&#8221; _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; custom_margin=&#8221;100px||||false|false&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_divider _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_divider][et_pb_text disabled_on=&#8221;off|off|off&#8221; _builder_version=&#8221;4.27.9&#8243; _module_preset=&#8221;default&#8221; header_2_font=&#8221;Celia &#8211; regular||||||||&#8221; header_2_text_align=&#8221;center&#8221; header_2_font_size=&#8221;50px&#8221; header_3_font=&#8221;Geogrotesque Slab-Medium||||||||&#8221; header_3_text_align=&#8221;center&#8221; header_3_font_size=&#8221;25px&#8221; text_orientation=&#8221;center&#8221; custom_padding=&#8221;||||false|false&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2>Our Team of Experts<\/h2>\n<p>Behind our investment solutions are individuals who are passionately committed to the investment success of our clients. Learn more about our well-coordinated team of experienced portfolio managers and analysts. <\/p>\n<p>[\/et_pb_text][et_pb_button button_url=&#8221;https:\/\/ha-gim.com\/credit-team\/&#8221; url_new_window=&#8221;on&#8221; button_text=&#8221;Explore further&#8221; button_alignment=&#8221;center&#8221; _builder_version=&#8221;4.27.9&#8243; _module_preset=&#8221;default&#8221; custom_button=&#8221;on&#8221; custom_margin=&#8221;||50px||false|false&#8221; custom_padding=&#8221;10px||||false|false&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_button][et_pb_divider _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_divider][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.25.2&#8243; _module_preset=&#8221;default&#8221; use_background_color_gradient=&#8221;on&#8221; background_color_gradient_stops=&#8221;rgba(0,0,0,0.57) 0%|rgba(0,0,0,0.4) 96%&#8221; 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--><\/div>\n<div id=\"6774836\" rel=\"text\" class=\"cr_form-component cr_form-component--text cr_ipe_item ui-sortable\" style=\"  margin-bottom:0px;\"><!-- [et_pb_line_break_holder] -->    <\/p>\n<div class=\"cr_form-inputgroup cr_form-inputgroup--typetext\"><!-- [et_pb_line_break_holder] -->        <label for=\"cr_form-input--text6774836\" class=\"itemname\">Company<\/label><!-- [et_pb_line_break_holder] -->        <input id=\"cr_form-input--text6774836\" class=\"cr_form-input\" type=\"text\" name=\"1244536\" placeholder=\"\" style=\"width:100%;\"><!-- [et_pb_line_break_holder] -->    <\/div>\n<p><!-- [et_pb_line_break_holder] --><\/div>\n<p><!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] --><\/p>\n<div id=\"6603684\" rel=\"checkbox\" class=\"cr_form-component cr_form-component--group cr_form-component--checkbox cr_ipe_item ui-sortable musthave\" style=\"  margin-bottom:34px;\"><!-- [et_pb_line_break_holder] -->    <span class=\"label cr_form-component--header\">Required field*<\/span><!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->    <\/p>\n<div class=\"cr_form-component--group\"><!-- [et_pb_line_break_holder] -->    <!-- [et_pb_line_break_holder] -->        <!-- FIXME: Nebeneinander, nicht untereinander --><!-- [et_pb_line_break_holder] -->        <span class=\"cr_form-inputgroup cr_form-inputgroup--typecheckbox\"><!-- [et_pb_line_break_holder] -->            <input id=\"Hiermit willigen Sie ein, dass die H&amp;A Global Investment Management GmbH Ihre Daten dauerhaft speichert und nutzt, um Ihnen Produkt- und sonstige Informationen zu schicken. Sie haben das Recht, Ihre Einwilligung jederzeit zu widerrufen. Durch den Widerruf der Einwilligung wird die Rechtm\u00e4\u00dfigkeit der aufgrund der Einwilligung bis zum Widerruf erfolgten Verarbeitung nicht ber\u00fchrt. Alle Einzelheiten zur Speicherung und Nutzung Ihrer Daten finden Sie in unserer Datenschutzerkl\u00e4rung.6603684\" class=\"cr_form-checkbox cr_ipe_checkbox\" type=\"checkbox\" name=\"1241537[]\" value=\"Hiermit willigen Sie ein, dass die H&#038;A Global Investment Management GmbH Ihre Daten dauerhaft speichert und nutzt, um Ihnen Produkt- und sonstige Informationen zu schicken. Sie haben das Recht, Ihre Einwilligung jederzeit zu widerrufen. Durch den Widerruf der Einwilligung wird die Rechtm\u00e4\u00dfigkeit der aufgrund der Einwilligung bis zum Widerruf erfolgten Verarbeitung nicht ber\u00fchrt. 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All details on the storage and use of your data can be found in our privacy policy.   <\/label><!-- [et_pb_line_break_holder] -->        <\/span><!-- [et_pb_line_break_holder] -->    <\/div>\n<p><!-- [et_pb_line_break_holder] --><\/div>\n<p><!-- [et_pb_line_break_holder] --><\/p>\n<div id=\"6637609\" rel=\"checkbox\" class=\"cr_form-component cr_form-component--group cr_form-component--checkbox cr_ipe_item ui-sortable musthave\" style=\"  margin-bottom:0px;\"><!-- [et_pb_line_break_holder] -->    <span class=\"label cr_form-component--header\">Financial market guidelines*<\/span><!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->    <\/p>\n<div class=\"cr_form-component--group\"><!-- [et_pb_line_break_holder] -->    <!-- [et_pb_line_break_holder] -->        <!-- FIXME: Nebeneinander, nicht untereinander --><!-- [et_pb_line_break_holder] -->        <span class=\"cr_form-inputgroup cr_form-inputgroup--typecheckbox\"><!-- [et_pb_line_break_holder] -->          <input id=\"Der Newsletter richtet sich an professionelle Anleger im Sinne der Finanzmarktrichtlinie (MIFID), bei denen davon ausgegangen werden kann,  dass sie \u00fcber ausreichende Erfahrungen, Kenntnisse und Sachverstand verf\u00fcgen, um ihre Anlageentscheidungen zu treffen und die damit verbundenen Risiken angemessen beurteilen zu k\u00f6nnen.6637609\" class=\"cr_form-checkbox cr_ipe_checkbox\" type=\"checkbox\" name=\"1243344[]\" value=\"Der Newsletter richtet sich an professionelle Anleger im Sinne der Finanzmarktrichtlinie (MIFID), bei denen davon ausgegangen werden kann,  dass sie \u00fcber ausreichende Erfahrungen, Kenntnisse und Sachverstand verf\u00fcgen, um ihre Anlageentscheidungen zu treffen und die damit verbundenen Risiken angemessen beurteilen zu k\u00f6nnen.\"><!-- [et_pb_line_break_holder] -->            <label class=\"no-label\" for=\"Der Newsletter richtet sich an professionelle Anleger im Sinne der Finanzmarktrichtlinie (MIFID), bei denen davon ausgegangen werden kann,  dass sie \u00fcber ausreichende Erfahrungen, Kenntnisse und Sachverstand verf\u00fcgen, um ihre Anlageentscheidungen zu treffen und die damit verbundenen Risiken angemessen beurteilen zu k\u00f6nnen.6637609\">The newsletter is aimed at professional investors within the meaning of the Markets in Financial Instruments Directive (MIFID) who can be assumed to have sufficient experience, knowledge and expertise to make investment decisions and to be able to adequately assess the associated risks.<\/label><!-- [et_pb_line_break_holder] -->        <\/span> <!-- [et_pb_line_break_holder] -->    <!-- [et_pb_line_break_holder] -->    <\/div>\n<p><!-- [et_pb_line_break_holder] --><\/div>\n<p><!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->        <\/div>\n<p><!-- [et_pb_line_break_holder] --> \t<script src=\"https:\/\/www.google.com\/recaptcha\/api.js\" async=\"\" defer><\/script><!-- [et_pb_line_break_holder] -->\t<!\u2013- [et_pb_br_holder] -\u2013><!-- [et_pb_line_break_holder] -->\t<\/p>\n<div id=\"recaptcha_v2_widget\" class=\"g-recaptcha\" data-theme=\"light\" data-size=\"normal\" data-sitekey=\"6Lfhcd0SAAAAAOBEHmAVEHJeRnrH8T7wPvvNzEPD\" style=\"padding-left:22px;\"><\/div>\n<p><!-- [et_pb_line_break_holder] -->\t<!\u2013- [et_pb_br_holder] -\u2013><!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->\t<!-- [et_pb_line_break_holder] --><\/div>\n<p><!-- [et_pb_line_break_holder] -->        <\/div>\n<p>   <!-- [et_pb_line_break_holder] -->    <!-- [et_pb_line_break_holder] -->  <\/p>\n<div id=\"6551985\" rel=\"button\" class=\"cr_form-component cr_form-component--submit cr_ipe_item ui-sortable  submit_container\"><!-- [et_pb_line_break_holder] -->    <button type=\"submit\" class=\"cr_form-block cr_button\" style=\"background-color: #93642e\">Register<\/button><!-- [et_pb_line_break_holder] --><\/div>\n<p>      <!-- [et_pb_line_break_holder] -->\t<noscript><a href=\"https:\/\/www.cleverreach.com\/\">www.CleverReach.de<\/a><\/noscript><!-- [et_pb_line_break_holder] -->    <\/div>\n<p><!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->  <\/p>\n<div id=\"9403731\" rel=\"recaptcha\" class=\"cr_ipe_item ui-sortable musthave\"><!-- [et_pb_line_break_holder] -->\t<!-- [et_pb_line_break_holder] -->    <!-- [et_pb_line_break_holder] --><\/form>\n<\/div>\n<\/form>\n<p>[\/et_pb_code][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; 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