FYI: Unconstrained bond funds follow no benchmark and have few if any constraints placed on what their portfolio managers may buy or sell. Bonds of any credit quality, duration, or national origin; from the debt of small-cap emerging-market corporations to U.S. Treasuries; as well as derivatives and other asset classes are all fair game for “go anywhere” unconstrained bond funds, and this is why the funds are becoming increasingly popular – and controversial.
Regards,
Ted
http://dailyalts.com/unconstrained-bond-funds-popular-spite-contrasting-views/
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