Jeremy Wharton, manager of the £175m Church House Investment Grade Corporate Bond fund, has increased his allocation to floating rate notes (FRNs) from almost zero at the start of 2014 to 30%, as a means of protection against future interest rate rises.
He said investors should be aware of the risks posed by rising rates, as well as a lack of liquidity in the corporate bond market, particularly in high yield. "It may not be the right place to be at...
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