About us. All funds All funds. All investment strategies All investment strategies. All insights All insights. Customer service Customer service. Ask bigger questions Ask bigger questions. Matters of money tug at both our intellect and emotions. Hear from two pros on how to find balance. BlackRock Nov 19, More articles loaded.
Feb 9, By Rick Rieder. In this piece, BlackRock Global Allocation Fund portfolio manager Russ Koesterich discusses the implications of a rise in stock-bonds correlations. Jan 4, By Jeff Shen. COVID has accelerated some economic trends into warp speed and our quantitative tools are telling us that these trends have a long way to run.
Get the latest updates from our RSS feed. They are current as of the date s indicated but are subject to change without notice. Any estimates, targets, and projections are based on Breckinridge research, analysis and assumptions. No assurances can be made that any such estimate, target or projection will be accurate; actual results may differ substantially.
Nothing contained herein should be construed or relied upon as financial, legal or tax advice. All investments involve risks, including the loss of principal. An investor should consult with their financial professional before making any investment decisions. Some information has been taken directly from unaffiliated third party sources. Breckinridge believes such information is reliable, but does not guarantee its accuracy or completeness. Any specific securities mentioned are for illustrative and example only.
They do not necessarily represent actual investments in any client portfolio. I Agree Read Terms and Conditions. Additional Navigation Subscribe. ESG Newsletter. Longer-duration bonds and bond funds also typically have higher yields than their shorter-term counterparts to compensate investors for taking on added interest-rate risk.
The average effective duration figure also determines where the fund lands along the Interest-Rate Sensitivity axis of the Morningstar Fixed-Income Style Box, with ratings ranging from limited to moderate to extensive click here for more on how the Fixed-Income Style Box works. Measuring the Effect of an Interest-Rate Change Investors can use duration to help estimate how a bond or bond fund's value would be affected by a change in interest rates. This measure allows investors to easily make an apples-to-apples comparison of interest-rate sensitivity for bonds with different maturity dates and interest coupon rates.
For example, a bond with a duration of 6 years would normally be twice as sensitive to interest-rate changes as one with a duration of 3 years regardless of when they mature or what they pay in interest. Not a Perfect System Although duration can be a useful tool in determining the interest-rate sensitivity of a bond or portfolio of bonds, it is far from a perfect measure.
As Eric Jacobson, Morningstar's director of fixed-income research, points out in this article , duration is most useful in measuring interest-rate sensitivity for bonds that closely track U. For those that don't--some corporate bonds, for example--duration might be useful to measure relative rate sensitivity between the two types, but prospective investors will need to bear in mind that those bonds won't necessarily move in sync with Treasuries.
Investments in foreign currency denominated assets will be affected by foreign exchange rates. There is no guarantee that the principal amount of the investment will be preserved, or that a certain return will be realized; the investment could suffer a loss. All profits and losses incur to the investor. The amounts, maximum amounts and calculation methodologies of each type of fee and expense and their total amounts will vary depending on the investment strategy, the status of investment performance, period of management and outstanding balance of assets and thus such fees and expenses cannot be set forth herein.
Box , Toronto, ON, M5L 1G2 services and products may only be available in certain provinces or territories of Canada and only through dealers authorized for that purpose. No part of this publication may be reproduced in any form, or referred to in any other publication, without express written permission.
Americas Brazil. Latin America. United States. Asia Pacific Australia. Hong Kong. The Netherlands. United Kingdom. United Arab Emirates. Location not listed? Visit our Global site. Save my selection. Saved Content And Share Content.
0コメント