Bearish caution sets in as the exuberance of 2003 dissipates

Fixed income

Fixed income managers became cautious in the last month as many saw opportunities become more security-specific.

Distressed, high-yield emerging and developed markets, and relative value/arbitrage funds performed well in 2003. Distressed and high-yield fixed income have, in fact, been good investments for the last two years due to a consistent tightening of spreads which managers have been able to play.

However, that situation has worsened and now the question is whether there are still

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: