Vanishing yield cushions and the asymmetry of duration risk
It is widely assumed that government bonds are inherently ‘safe’ investments but this assumption is no longer so reliable.
Bond yields can be misleading
How can a negative yield bond deliver a positive return, or a positive yield bond deliver a loss?
There’s more to fixed income than just buying bonds
This article outlines why a relative value approach is a compelling alternative to traditional fixed income investing.
Growing liquidity risk in fixed income portfolios
Liquidity, like the plumbing in your house, gets little attention until something goes wrong.
The drivers of conventional fixed income returns
To properly assess performance the underlying drivers of return must be understood, including the types of risk to which a portfolio is exposed.
Exploiting arbitrage in bond markets
In this podcast Portfolio Manager, Gopi Karunakaran, speaks to Alan Kohler about the Ardea Real Outcome Fund and how it operates.
Your Wealth – Five key risks and how to avoid them
In this nabtrade podcast, Gopi Karunakaran discusses alternative types of fixed income and the key risks investors should be considering.
The bizarre world of negative interest rates
Some central banks are pushing monetary policy into the upside down world of negative interest rates, but rather than success they are creating bizarre side effects.
Safe havens and risky assets rallying at the same time
How is it that traditional safe haven assets like gold, government bonds and the Japanese yen are all performing strongly this year, just as risky assets like equities, credit and emerging markets are also doing very well?
Hidden liquidity risk in fixed income portfolios
Liquidity is one of those things that doesn’t get much focus until it’s too late.