John Pattullo and Jenna Barnard, the portfolio managers of a bond fund at Henderson Global Investors, have increased the weighting of high-yield in the fund, FundWeb reports. The weighting of the Henderson Preference & Bond fund has been raised to reduce interest rate risk.
Since the end of December, the share of the portfolio allocated to high-yield bonds has risen from 27.8% to 45.7%. The increase required removing the fund’s self-imposed constraint for high-yield from a maximum of 40% to 60%.