In the latest Big Debate, our panelists from Legg Mason and Rathbone Unit Trust Management discussed Fixed Income.
Is it time to rotate between fixed income asset classes?
Returns within fixed income asset classes have diverged considerably over the last 12 months, so where should investors be positioned going forward?
Emerging market debt has looked a bit expensive and arguably not delivered, so do investors need to discriminate between local currency and sovereign EMD? What opportunities are there in the sector?
High yield has had a good run, but again how much mileage is there left in the market?
Is there a case for holding US T-bills, UK gilts or other major sovereign bonds as the anchor in a portfolio instead of cash?
What about some elements of the bombed out credit markets - such as CLOs, or CDOs?
Or is the corporate bond sector, with the strength of global corporate balance sheets, the best place for investors to look?
The Big Debate will discuss all areas of the fixed income market with the objective of telling listeners where the opportunities are going forward.
On the panel:
Ian Edmonds - Portfolio Manager at Legg Mason subsidiary, Western Asset and lead manager on the Legg Mason Global Multi Strategy Fund
Bryn Jones - Fixed Income Investment Director & Manager of the Rathbone Strategic Bond Fund and Rathbone Ethical Bond Fund, Rathbone Unit Trust Management
Relative value strategies useful
Taking advantage of "dynamic" industries
Opportunities despite hard-landing fears
Fund slated for Q1 launch
Keith Barrett, head of research at Ingenious Asset Management, asks whether outperformance in US healthcare stocks can continue or if it is time to take profits.