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Prudent capital preservation should be top priority

Towards the end of business cycle, adequate compensation for risk is crucial.

Investors appear to be chasing yield and moving down the debt quality spectrum.

GIVEN the abundance of risk factors weighing on the global economy and ageing business cycle, we think fixed income investors can benefit from a focus on active capital preservation.

Expected returns are the lowest they've been for decades, as asset prices have risen across the board and...

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