High-yield managers grabbing higher-rated opportunities, says S&P

High-yield bond fund managers have been taking advantage of higher-rated bond buying opportunities du...

High-yield bond fund managers have been taking advantage of higher-rated bond buying opportunities during the credit crunch, according to S&P. Analyst Irina Schoenberg said high yield funds have been increasing holdings in highly rated investment grade bonds. Baillie Gifford High Yield Bond fund managers Stephen Rodger and Ben Thompson have been adding bonds from RBS, BNP Paribas and Barclays, she said. “They are very enthusiastic about the longer-term mixture of risk and reward offered by these holdings,” said Schoenberg. “This reflects their view that the credit crisis will come to...