Bonds no longer contrarian

Recent 'tough markets' have taken contrarian simplicity out of fixed income investing

This week's Conjecture debate covers the outlook for fixed income. In attendance were Kate Hollis, director of fund research at Standard & Poor's, Richard Hodges, associate director of active fixed income at Legal & General, Mike Zelouf, director of London business at Western Asset Management (part of Legg Mason) and Bryn Jones, manager of the Rathbone Ethical Bond fund. Markets have been fairly crazy recently, how have you been coping in that? Bryn Jones (BJ): It has been tough. In terms of the Ethical Bond fund, one of the main difficulties has been we cannot hold gilts. One thing w...