Letter to Shareholders Value Bonds Q2 2015

Sparinvest’s Value Bond strategies will continue to maximize returns by identifying and investing in smaller bond issues. But the portfolios will be more balanced from a liquidity perspective in order to minimize risks from crowded trades as well as reduce tracking error.
In their Q2 2015 Letter to Shareholders, Sparinvest’s Value Bonds team look at the the potential impact on the Eurozone of a ‘Grexit’, skyrocketing German 10-yr bond yields, disappointing data from China and continuing liquidity problems.

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