James McAlevey, Head of Interest Rates and Kevin Adams, Director of Fixed Income, provide a review of the Henderson Unconstrained Bond Fund’s performance in April and discuss the drivers of the recent increase in bond market volatility. Performance in April was reasonably good particularly in the context of global bond markets selling off quite substantially. The Unconstrained Bond Fund produced a small positive return backed predominately by its exposure to high yield bonds which performed strongly particularly European bonds where support was coming from investors looking for a higher yielding assets while faced with very low government bond yields.
