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Fund Times

How Non-Traditional Bond Managers Are Navigating

Three non-traditional bond managers discuss the evolution of their strategies, main inputs into their portfolio construction, and how they expect to navigate the changing market environment ahead.

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Non-traditional bond funds have been one of the fastest-growing segments of the actively managed fund industry in recent years. We've written quite a bit about the emergence of these strategies, many of which describe themselves as "unconstrained," "strategic," or "opportunistic." Common denominators of these funds include a broad duration range, sector-picking flexibility, and lower correlations to traditional fixed-income indexes, all with a keen eye on preserving and growing capital while keeping interest rate sensitivity and volatility low.   

The "Opportunity or Opportunity Cost" panel at the 2015 Morningstar Investment Conference was a chance to bring together three managers, each from firms with large stakes in non-traditional fixed income funds, to discuss the evolution of their strategies, main inputs into their portfolio construction, and how they expect to navigate the changing market environment ahead.

Elizabeth Foos does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.