In the years following the Global Financial Crisis, many traditional fixed income investors turned their attention to Unconstrained Fixed Income to address the low yields and heightened macro risks of the time.
Brian Timberlake, PhD, CFA Head of Macro and Quantitative Research and Chris Wilson, CFA Senior Fixed Income Client Portfolio Manager discusses why Voya Investment Management believes that Unconstrained Fixed Income was not a bad idea, but rather a good idea poorly executed. Highlights include:
- Focus on risk-adjusted returns
- Bonds should act like bonds
- Simplified framework, with practical allocations
- Data set aligns with category adoption