Diversified fixed interest performs
Diversified fixed interest income funds performed strongly over the 12 months to the end of July on the back of the rebound in credit markets, according to the latest Standard & Poor’s International Fixed Interest Review.
The review revealed a substantial number of funds as having earned S&P’s premium four-star rating, with the only change relating to the CFS Macquarie Income Opportunities Fund, which was downgraded to three stars.
Commenting on the review outcome, S&P Fund Services analyst Kelly Napier said that with such a diverse group of funds there had been one standout similarity: exceptionally strong performance over the 12-month period that had followed the rebound of credit markets and provided a significant premium over cash.
However, she said there was still wide dispersion in the funds’ performance figures, reflecting not just their credit appetite but also the timing of re-entry into credit markets and the size of their exposure.
AUTHOR
Mike Taylor
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