Fixed-income products becoming global macro hedge funds...
In my monthly column for the Smart Investor magazine I consider the rise of so-called "unconstrained" bond funds, the exemplar of which is co-portfolio managers Bill Gross and Kumar Palghat's Janus product which punts outright bonds, high yield (ie, sub-investment grade debt), listed equities, global currencies and likes to sell derivatives relating to these asset-classes. I argue that the performance of global macro hedge funds, which is what these unconstrained fixed-income products look like, suggests that it is very difficult to be a consistent master of so many different investment topics. In this context, there is much to be said for specialisation: Free (VIEW LINK)
Never miss an update
Enjoy this wire? Hit the ‘like’ button to let us know.
Stay up to date with my current content by
following me below and you’ll be notified every time I post a wire
Chris co-founded Coolabah in 2011, which today runs over $8 billion with a team of 40 executives focussed on generating credit alpha from mispricings across fixed-income markets. In 2019, Chris was selected as one of FE fundinfo’s Top 10 “Alpha Managers” based on his risk-adjusted performance throughout his career across. He previously worked for Goldman Sachs in London and Sydney, the Reserve Bank of Australia, and founded the award‐winning research/investment group, Rismark. He has regularly advised governments, developing unique policy proposals. Chris graduated with the University Medal (Economics & Finance) from Sydney University. He studied in the PhD program at Cambridge University in 2002/03, leaving to set up his funds business.
3 topics
Chris co-founded Coolabah in 2011, which today runs over $8 billion with a team of 40 executives focussed on generating credit alpha from mispricings across fixed-income markets. In 2019, Chris was selected as one of FE fundinfo’s Top 10 “Alpha...
Expertise
Chris co-founded Coolabah in 2011, which today runs over $8 billion with a team of 40 executives focussed on generating credit alpha from mispricings across fixed-income markets. In 2019, Chris was selected as one of FE fundinfo’s Top 10 “Alpha...
Expertise
Comments
Comments
Sign In or Join Free to comment
most popular
Equities
The most consistent ASX dividend stocks
Livewire Markets
Equities
Buy Hold Sell: 5 ASX names built for income
Livewire Markets