JP Morgan's Stealey: Why we have halved our high yield exposure this year
Improving portfolio credit quality behind fund's plans
Iain Stealey of JP Morgan
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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