manager of aberdeen's £1.2bn fixed interest fund buys oversold investment graDE bonds to combat rising yields
Paul Reed manages by far the largest fund in the UK Other Bond sector, with his Aberdeen Fixed Interest fund weighing in at just over £1.2bn as of last month. Like many managers in the sector Reed has seen yields rise in the non-investment grade market, which forms the focus of the Fixed Interest fund, as capital values have edged down. Reed, who has been a fund manager for more than 30 years, is optimistic as he believes the worst is over in terms of defaults and there are plenty of opportunities in badly oversold investment grade bonds. Without a true benchmark, how do you judge th...
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