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| Bonds Online |
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| 5/10/2013Market Performance |
| Municipal Bonds |
|---|
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S&P National Bond Index
|
3.00% |
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S&P California Bond Index
|
2.96% |
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S&P New York Bond Index
|
3.13% |
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S&P National 0-5 Year Municipal Bond Index
|
0.70% |
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| S&P/BGCantor US Treasury Bond |
400.09 |
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| More |
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| Income Equities: |
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| Preferred Stocks |
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S&P U.S. Preferred Stock Index
|
848.03 |
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S&P U.S. Preferred Stock Index (CAD)
|
636.26 |
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S&P U.S. Preferred Stock Index (TR)
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1,701.05 |
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S&P U.S. Preferred Stock Index (TR) (CAD)
|
1,276.26 |
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| REITs |
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S&P REIT Index
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174.07 |
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S&P REIT Index (TR)
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425.30 |
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| MLPs |
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S&P MLP Index
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2,469.58 |
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S&P MLP Index (TR)
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5,428.50 |
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See Data
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High-yield bonds go mainstream |
FT - Advisor - April 18, 2011 - by Bradley Gerrardi
High-yield bond funds have experienced an "unprecedented level of activity" in the past few months, a report from Lipper found, prompting the asset class to now be considered mainstream by managers.
The managers said high yield - bonds which typically have credit ratings below 'BBB' and pay out higher levels of income than investment-grade bonds - has joined equities, corporate bonds, government bonds and property as one of the must-have asset classes.
The remarks came after data firm Lipper last week published its latest European sales statistics showing an "unprecedented level of activity", with €11bn (£9.7bn) of net sales into high-yield bond funds in January and February together.
January saw €5.8bn of flows and February €5.2bn, both eclipsing the joint figure for the same period in 2010 of 3.9bn euros - which itself was a record, Lipper said.
Phil Milburn is manager of the £330.4m Aegon High Yield Bond fund, the top performer in the IMA Sterling High Yield sector over the past year with a 12.2 per cent return.
He said: "I have been running high yield money for 10 years and have seen more interest in the last two years than in the previous eight."
The manager said there had been a transition in terms of supply to the high-yield market with many issuers looking to refinance in the bond markets instead of with banks.
But investor need to be "realistic" about returns as the double digit was average last year is unlikely to be repeated for a couple of years, he said.
He said: "It is important to understand the reward is still there but getting it in context is important."
Fatima Luis, manager of the £65.2m F&C Maximum Income fund, said: "The area has grown as the European market is now worth €200bn, up from just €25bn in 2002.
For the complete article.
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| Stuff to look at |
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| BondsOnline Advisor |
Income Security Recommendation January 2013 Issue.
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