FYI: For many investors, actively managed investments seem too expensive and of too little value compared with their passively managed counterparts, but this global fixed-income firm is making a strong pitch for active management in the broad U.S. fixed-income market and overseas.
When looking at the construction of the Bloomberg Barclays U.S. Aggregate Bond Index, “I don’t want to say there are inherent flaws, because there are certain rules around it,” said Doug Hulsey, head of product management at Pasadena, Calif.-headquartered Western Asset Management, an affiliate of Legg Mason with $420 billion in AUM, primarily in fixed income. However, a growing share of the securities in the Barclays Agg is from the issuers that have the most debt, he said.
Regards,
Ted
https://www.fa-mag.com/news/active-management-helps-fixed-income-do-its-job--says-manager-41077.html?print
