Why unconstrained bond fund skepticism is justified (think 2008, not 2013) and why RIAs should say: None of the above
Brent Burns counter-dissects the Sanders Wommack vivisection of an article written by experts from LPL and Google
Vanguard Group shows up as 'alpha' disciple with two new fixed-income fund launches as it surpasses PIMCO's $2 trillion with ex-Goldman Sachs partner now calling the shots
The $8 trillion Malvern, Pa. manager owns beta investing, but RIAs are demanding higher income -- hence market timing and cherry picking -- from their fixed-income allocation.
August 10, 2021 at 11:46 PM
Jeff Mello is latest to join eMoney's talent exodus but CEO Ed O'Brien says it's healthy renewal at a firm that added several hundred people since Fidelity bought it
The ex-Goldman Sachs director of strategy and planning at eMoney joins a growing list of departures exacerbated, sources say, by Fidelity putting a wobbly performance reporting software project -- and staff -- on its plate
February 28, 2020 at 11:09 PM
Pete Giza and Damon Deru go for Holy Grail of portfolio rebalancing with software that shuffles stocks, bonds... and asset classes; Believe it?
The RedBlack and TradeWarrior executives see old systems as 'archaic' yet know that the Black Diamonds, Morningstars, Orions and Tamaracs see rebalancing as a loss leader
June 11, 2019 at 9:49 PM
I certainly don’t mean to be a nudge on this because I think what the writer is saying makes sense but…
Citing 2008 as the poster child for risks of unconstrained bonds funds is, in my view, not a real good example. The reality of it is that in 2008 everything correlated…in a bad way. It wasn’t just unconstrained bonds. Also- I would imagine that if there was any spread product in the dedicated strategy cited- those bonds didn’t do so well either.
To me the real discussion should be around the utilization of SMBA- separately managed bond accounts vs. mutual funds. So whether it is a dedicated approach, active, spread yada yada- a separately managed account makes more sense for reasons the writer mentioned. It is doable for some but not everyone.
Lastly- dedicated or immunized investment strategies are not new- been around for quite a while.