Total Return Bond Investing In The Current Market Environment
2013 turned out to be a scary year for even excellent total return bond funds. For example, PTTRX (PIMCO Total Return Instl) lost -1.9% due to a well published ill bet on Treasury bonds in the mid year by its manager Bill Gross. WATFX (Western Asset Core Bond I) lost -2.1% while the general bond market index VBMFX (Vanguard Total Bond Market Index Inv) lost -2.5%.
However, since the beginning of the year, bonds have recovered (to be precise, fixed income has been fairly strong. The following shows how our total return bond fund upgrade portfolios have done recently:
Portfolio Performance Comparison (as of 4/21/2014):
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