Professional Wealth Managementt

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By PWM Editor

“We decided to move out of high yield bonds. Credit spreads came in during the whole of 2003 and we felt that the risk/reward of these instruments had deteriorated relative to government quality paper. We therefore removed Pimco High Yield from the model portfolio and increased our position in Thames River Global Bond, the government bond portfolio with an absolute return focus, which has recently been added to the model portfolio”

 

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