Active bond funds tend to beat stock-based peers. One top manager talks strategy and interest rate outlook (via ETFEdgeCNBC)
Stock pickers don't tend to beat indexes, but active bond fund managers are doing a bit better, according to Morningstar.
Though the gap narrows over longer time periods — just 27% of active bond funds beat their benchmarks in the last 10 years versus 25% of active equity funds — active management does offer some advantages to fixed-income investors, Pimco's Jerome Schneider told CNBC'sAs Pimco's head of short-term portfolio management, Schneider oversees the world's second-largest actively managed bond ETF, theThe flexibility to deviate from benchmark indexes is "an incredibly large...
He pointed out that in 2008 amid the financial crisis, only about 8% of the Bloomberg Barclays Aggregate Bond Index was invested in BBB-rated bonds, the lowest-ranking in the investment-grade category. Now, they account for more than 15% of the index, Schneider said. Nimble active managers can help reduce that risk and moderate it with the Fed's interest rate timeline still cloudy, Schneider said.
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