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Citywire series 3: Time to constrain the ‘unconstrained’ bond sector

Coming to the end of the monetary cycle, there has been a huge dispersion in fund returns in the unconstrained bond sector – a major concern to some of its biggest long-term supporters. With interest rates at rock bottom for over a decade, many bond investors have pursued returns in riskier parts of the market. That strategy will no longer work, argue fund managers Alex Ralph and David Roberts from Palomer Fixed-Income.