Fund Manager's Viewpoint: Stephen Snowden

Despite the recent sovereign uncertainty and volatility, we would argue that bond funds are still a worthy part of investors’ portfolio as their income generating potential relative to mediocre deposit rates is still firmly in place. Volatility has returned once more to unsettle markets. Sovereign solvency-induced market pain has been a regular feature since Dubai started the ball rolling six months ago. We expect it to continue to interrupt markets for at least another six months, and probably much longer than that. The first phase, in Dubai in late 2009, seemed a long way away for U...