JP Morgan's Stealey: Why we have halved our high yield exposure this year

Ellie Duncan
29 November 2019

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Iain Stealey, who manages the £65.2m JPMorgan Global Bond Opportunities fund alongside Bob Michele, has been reducing the fund's allocation to high yield over the course of this year and upgrading the credit quality.

Stealey pointed out that the strategy has had a "pretty meaningful allocation to high yield since its launch six years ago". The 'toxic mushrooms' in the high yield market At times, over 50% of the...

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