Sector report: Where to look in high yield

Investors in hedged global and regional sterling high yield strategies have had a successful year. Over 12 months, the best performer has been Invesco Perpetual's European High Yield fund, run by Paul Causer and Paul Read. The duo delivered 23.6%, beating their nearest rival, AXA Pan European High Yield, by a significant margin. But the long run of capital gains may have finally lost momentum, thanks to Ben Bernanke's recent comments about quantitative easing (QE) tapering. Fund losses were widespread last month as a result of his remarks, according to Lipper data. The average sector ...