Commodity currencies lift fixed income bonds

The fixed income global bond sector has seen good returns over the past five years with most achieving positive returns. The main success stories came from funds that overweighted countries with 'commodity currencies' - those from resource-rich countries such as Australia. One of the best performers was the Mellon Global Bond fund, which was ranked second in the sector over five years. The portfolio is a total return fund and is not restrained to any index and it invests in bonds as well as currencies so manager Stewart Cowley can be more flexible than other managers. One of the reason...