Managers of income-focused multi-manager funds raised their investment grade bond exposure in the first quarter of 2018, with the average weighting up by 2.9 percentage points to 19.7% - a four-year high.
Research from Harrington Cooper shows that bonds were "a surprise winner" during the three-month period, which saw gilt yields climb on the back of a sell-off in global bonds as investors grew bullish...
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