high yield

ON BONDS

ONE TO WATCH

Thomas Samson, portfolio manager at Muzinich & Co, looks at the high yield bonds to own in an uncertain environment.

M&G bond star Richard Woolnough has built up the largest exposure to high yield across his three bond funds since he started at M&G in 2004.

Kames Capital's bond managers Stephen Snowden and Phil Milburn have warned it is too early to start buying up cheap stock as we are only 75% of the way through the European sovereign debt crisis.

Legal & General Investment Management has hired Martin Reeves from AllianceBernstein to replace David North as manager of its £1.9bn High Income trust.

AXA Investment Management is planning to reopen its onshore £535m US Short Duration High Yield fund, after removing the cap on the £4.1bn offshore version of the fund.

European investors who pumped billions into high-yield bonds in first half of 2011 could see asset class faced with rising default rates.

Legal & General Investments' Richard Hodges has fled to cash and trimmed high yield in a move to protect his £1.8bn Dynamic Bond trust against Lehman-like market conditions.

Aberdeen has appointed Henderson Extra Monthly Income Bond fund manager Ben Pakenham to help manage its range of high yield portfolios.