Scot Wids High Income favours high-yield debt

Managers of the £318m AA rated Scottish Widows High Income bond fund remain overweight in high-yield...

Managers of the £318m AA rated Scottish Widows High Income bond fund remain overweight in high-yield debt relative to government stock. The fund is managed under contract by US company MacKay Shields, the wholly owned investment subsidiary of New York Life. Lead managers on the fund are Joe Portera and Jordan Teramo. On 28 July, it was added to Scottish Widows' life and pension fund range. "Barring a protracted global recession, we remain positive on the outlook for high yield. Yield spreads remain at historically wide levels. Unless the global goes back into recession, default rates shou...