David Albrycht Discusses Opportunities in Fixed Income
David L. Albrycht, CFA
President and Chief Investment
Newfleet Asset Management, LLC
David Albrycht, Chief Investment Officer at Newfleet Asset Management, discusses fourth quarter volatility in risk assets and where he believes this volatility has created opportunity.
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IMPORTANT RISK CONSIDERATIONS
Credit & Interest: Debt securities are subject to various risks, the most prominent of which are credit and interest rate risk. The issuer of a debt security may fail to make interest and/or principal payments. Values of debt securities may rise or fall in response to changes in interest rates, and this risk may be enhanced with longer-term maturities. Foreign & Emerging Markets: Investing internationally, especially in emerging markets, involves additional risks such as currency, political, accounting, economic, and market risk. High Yield-High Risk Fixed Income Securities: There is a greater level of credit risk and price volatility involved with high yield securities than investment grade securities. ABS/MBS: Changes in interest rates can cause both extension and prepayment risks for asset- and mortgage-backed securities. These securities are also subject to risks associated with the repayment of underlying collateral. Bank Loans: Loans may be unsecured or not fully collateralized, may be subject to restrictions on resale and/or trade infrequently on the secondary market. Loans can carry significant credit and call risk, can be difficult to value, and have longer settlement times than other investments, which can make loans relatively illiquid at times. Prospectus: For additional information on risks, please see the fund’s prospectus.
Holdings sited represent the following percent of the Virtus Newfleet Multi-Sector Short Term Bond Fund as of 12/31/2018: Anheuser-Busch InBev Worldwide Inc., 3.5369% 01/12/2024; 0.08%, AT&T Inc., 3.9559% 06/12/2024; 0.33%, Comcast Corp., 3.9500% 10/15/2025; 0.12%, CVS Health Corp., 3.7000% 03/09/2023; 0.24%, Verizon Communications Inc., 3.7161% 05/15/2025; 0.39%, Walmart: 0.00%.
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