Showing 1 - 10 of 178 results for 'Fixed Income'

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Journal Article

Active Fixed Income Illusions

Across a broad set of popular active fixed income categories, we find that passive exposures to traditional risk premia (especially exposure to credit risk) explain the majority of fixed income manager active returns.

Systematic Fixed Income: Introduction

Systematic fixed income takes a rigorous, repeatable approach to investing in bonds.

Perspective

Fixed Income Fantasies

Active fixed income managers have had a really good run in recent decades, but is this success due to skill? We found that there is less alpha than people think due to long-term overweight to credit. But there is hope, and we explain why.

Journal Article

Style Investing in Fixed Income

A disciplined, systematic approach to over-/underweight securities based on well-known factors, or styles, such as value, momentum, carry and defensive, can offer alternative sources of outperformance not only within equities but also within fixed income markets.

Alternative Thinking

The Illusion of Active Fixed Income Diversification

We examine popular active fixed income categories and find that a persistent overweight to high yield credit explains the majority of fixed-income managers’ active returns. We then discuss some key implications for asset owners.

Podcast

Extra Credit in Active Fixed Income

Active fixed income managers have tended to beat their benchmarks, but a peek under the hood of that outperformance reveals that it’s highly correlated with equities.

Journal Article

Style Investing in Fixed Income Markets

A disciplined, systematic approach to over/underweight securities based on well-known factors, or styles, such as value, momentum, carry and defensive (sometimes called “quality”), can offer alternative sources of outperformance not only within equities, where these ideas have long been studied and applied, but also within fixed income markets.

Systematic Fixed Income: Benefits of Diversification

We delve deeper into topics relevant to fixed income markets. What is the credit risk premium? How are factors implemented in bonds? And how are active bond managers actually investing today?

Alternative Thinking

The Illusion of Active Fixed Income Alpha

Do fixed income (FI) managers generate alpha? We take a deep dive into the determinants of excess of benchmark returns for a broad set of popular active FI categories.

Systematic Fixed Income: A Closer Look

We delve deeper into topics relevant to fixed income markets. What is the credit risk premium? And how are active bond managers actually investing today?