FYI: Leon LaBreque, a financial adviser from Troy, Mich., was wowed back in 2011 when he heard the pitch for the Goldman Sachs Strategic Income Fund. It was a new kind of fixed-income portfolio whose managers had the freedom to buy just about anything. Along with bonds, they might bet on emerging-markets currencies or lend U.S. dollars to Japanese investors—and they could draw on the global expertise of Goldman Sachs. “The story was so compelling, and the people were so smart,” LaBreque says. “I thought, how could it not work?”
Regards,
Ted
https://www.bloomberg.com/news/articles/2017-10-27/bond-managers-who-can-go-anywhere-may-end-up-in-the-wrong-place
