By Ashok K. Bhatia, CFA
There are a variety of factors that suggest an active approach to fixed income is a preferred option, which may become even more evident as policy normalization continues and the long-lived credit cycle eventually returns.
Given the surging popularity of passive equity strategies-fueled by factors ranging from extraordinary global central bank accommodation to increasing fee pressures - it comes as little surprise that proponents of this style of investment would seek to replicate their success in the bond markets. As we discuss in our latest examination of the active/passive debate,