'No AT1s. No CCCs:' Bond Veteran Roberts' New Fund Favors Safer Debt.

COUNTERPARTY risk; DEBT; BONDS (Finance); BOND market; INVESTORS; PUBLIC debts; JUNK bonds

David Roberts, a bond market veteran, is returning to buying debt after cutting his retirement short. He is the co-manager of Nedgroup Investments' global strategic bond fund, which avoids near-default CCC-rated bonds and Additional Tier 1 notes. Roberts believes that the current market resembles the period between 2000 and 2010, and he aims to buy as much as possible and own it. The fund focuses on investment-grade bonds, sovereign debt, and a small portion of the highest-rated junk bond market. Roberts aims to outperform the US dollar-hedged Bloomberg global aggregate total return index over rolling three-year periods. [Extracted from the article]

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