This Niche Could Feed On the "Great Rotation"
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Wednesday, July 10, 2013

This Niche Could Feed On the "Great Rotation"

Some of the money that left bond funds may flow into balanced allocation funds, Barrons' Brendan Conway writes. Conway is reporting on it because the niche grabbed the attention of Morgan Stanley, whose analysts put out a note on the likelihood that these funds could attract some of the investors scared away from bond funds:
We believe that strong-performing balanced/allocation funds, alternatives, strong-performing equity funds, and more diversified credit strategies have potential to pick up some of the flow as it comes back into the system.
These funds have a wide range of returns and some funds have been performing strongly, such as the Invesco Balanced-Risk Alllocation Fund [profile]. Morgan Stanley's data found leading allocation funds' average return in the first half of 2013 was 3.6 percent but the Thornburg Investment Income Builder Fund [profile] has been up 6.9 percent and Capital Group's [profile] American Funds Capital Income Builder Fund has been up 5.1 percent. Meanwhile, Pimco[profile] All Asset Authority Fund has been down 6.3 percent.

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