Weiss scraps bond strategy amid liquidity qualms

Buy-Side Risk USA: $1.6 billion manager says thinned-out markets make generating alpha hard

Bond prices

A $1.6 billion asset manager has closed down its investment-grade bond strategy amid fears of a liquidity vacuum during a big risk-off event.

“When there’s a risk-off event where the catalyst is related to the investment-grade market where people question the covenants, the issue to me is how will the liquidity be when people need it?” said Jordi Visser, president and chief investment officer of Weiss Multi-Strategy Advisers.

The dramatic drying-up of liquidity across credit markets over the

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