Navigating the fixed income market with Jeff Moore - February 2021
Portfolio manager Jeff Moore examines the importance of diversifying in fixed income in 2021 and tackles the discussion on finding yield in this low-rate environment. Jeff notes that the main role of a bond portfolio is to offer diversification and potential for downside protection. In the new Fidelity Multi-Asset Innovation Fund that Jeff manages alongside Mark Schmehl, the balanced nature of the Fund causes the beta to tech exposure to drop about 50%. Jeff is trying to find bonds that yield 3–4% in multi-asset classes in the bond market. Jeff will not buy convertible debt for the Fund; he only buys bonds, and leaves stock volatility to the equity portion of the Fund.
Recorded February 17, 2021.
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