A 30-year bull market for bonds has given the impression that chunky capital gains are an inherent part of fixed income investment. Although this cannot be relied upon in future, other approaches can bring profitable bond investment
The environment for bonds has changed considerably over the past 20 years. In fact, to be a successful fixed income manager in today's market requires a far wider and different set of skills to what was necessary in the past. Moreover, the growing importance and renewed focus on the fixed income market has made this evolution very obvious over the past two years. Given recent volatility and poor performance in the equity market, it is important to reiterate the appeal of fixed income and why it should have a place in every investor's portfolio. First, the great attraction of fixed income ...
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