High-yield bonds will rebound, says top US junk-bond fund manager
Boston
GENE Neavin, co-manager of the top-rated US$753 million Federated High Yield Trust, divides junk bonds into two categories: the 10 per cent of the market issued by metals, mining and energy companies, and the 90 per cent from everyone else.
While the first group faces serious problems, the second is in surprisingly good shape, according to Mr Neavin, whose fund has the best five-year performance among its peers. His view contrasts with bleaker forecasts from the likes of DoubleLine Capital's Jeffrey Gundlach.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Prudential shutters Hong Kong wealth unit Pulse
Singapore has to be realistic on global trends plaguing its stock market: DPM Wong
Google DeepMind unveils next generation of drug discovery AI model
AEM Holdings Q1 net profit tumbles 85% to S$2.4 million
World’s biggest tea buyer Lipton’s sale of last farms is a strategy shift
JPMorgan, Nomura limit Segantii exposure on Hong Kong case