YIELD-HUNGRY investors will have to ratchet up the risk curve if they are to achieve the same level of income that they got a few years ago, says JPMorgan Asset Management managing director Olivia Mayell.
The firm's Global Income Fund, a multi-asset portfolio, reflects this trend. Its equity exposure is now effectively around 55 per cent compared to 20 per cent in 2008. The weighting of high-yield debt, which used to be as high as 60 per cent, has been dialled down to 25 per cent.
Says Ms Mayell: "We still like high- yield debt but you need to complement that with developed market equities.
"The big change we've seen is that people who traditionally said their income investments comprise a fixed-income...
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