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How Do Bond-Fund Managers Beat the Index?

Understand the of risks that active bond-fund manager take to generate index-beating returns, suggests Alex Bryan.

Christine Benz: Hi, I'm Christine Benz for Do active bond fund managers actually exhibit skill, or have they simply made profitable bets on risky areas? Joining me to discuss some research on that topic is Alex Bryan. He is director of passive strategies research for Morningstar in North America.

Alex, thank you so much for being here.