Focus on risk balancing, not picking the winners
Karsten Bierre warns of dangers of 'picking the winners'
Bierre: "Within fixed income in particular, our first objective is to identify the exact risks we want to be exposed to – such as duration and credit spreads"
When most fund managers discuss fixed income investing, particularly in credit markets, many will unsurprisingly stress the importance of security selection.
Indeed, when trying to beat a benchmark, there is no doubt 'picking the winners' and 'avoiding the losers' is crucial. But is this the only way of generating attractive returns from fixed income markets?...
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