Focus on an Unconstrained Fixed Income Portfolio
The global bond market is now very difficult to navigate. Multiple factors are to blame: Historically low yields, the prospect of increased interest rates lowering bond prices, and diminished market liquidity driven by regulatory changes. Still, bonds remain an essential element of investors’ portfolios—and always will. Thus the question is not “if” to own bonds, but “how.” One answer is a portfolio management style which can flexibly exploit opportunities and manage risks.