Managers boost exposure to high yield credit on continuing rebound

Strategic bond fund managers are increasing exposure to high-yield credit on expectations this part ...

Strategic bond fund managers are increasing exposure to high-yield credit on expectations this part of asset class will continue its strong rebound in 2009. Speaking at the Cofunds Platform conference, Standard Life Investments' Andrew Sutherland and Aegon Asset Management's David Roberts said they had increased weightings in the bonds, despite the BarCap Pan-European High Yield index returning over 39% this year. Sutherland, SLI's head of corporate credit, has boosted exposure to high-yield bonds in his February-launched Strategic Bond fund, while trimming back government debt position...