When Transnet SOC Ltd. sold its first rand bond to foreign investors in November, Chief Executive Brian Molefe celebrated by buying a pair of two-tone shoes at an upmarket store on New York’s Madison Avenue.
Michael Buchanan knew exactly what to do as markets were rocked in recent weeks on concern turmoil in developing nations from Argentina to China and Turkey would cause the global economic recovery to derail: buy junk bonds.
ValueAct Holdings LP President Mason Morfit, the investor set to join Microsoft Corp.’s board as it prepares to make Satya Nadella chief executive officer, will seek another break with tradition: how the company sells its flagship products.
During tricky times in the bond market, the team at Loomis Sayles, renowned for their mastery of the unconventional, is a top-notch tour guide. The $19 billion Loomis Sayles Bond Fund and $13 billion Loomis Sayles Strategic Income operate with long leashes that allow them to sniff around just about anywhere: Junk bonds, foreign issues, convertible bonds, preferreds and dividend-paying stocks can all be added to the portfolios to augment the conventional stuff.
Loomis Sayles & Co.’s Dan Fuss, whose flagship fund beat 97 percent of rivals over the past three years, sees four commodity currencies as the “most attractive,” even as prospects the Federal Reserve will pare stimulus drive analysts to forecast most of them will decline.
Dan Fuss, whose Loomis Sayles Bond Fund beat 97 percent of rivals over the past three years, is holding off on buying Japanese sovereign bonds as Prime Minister Shinzo Abe’s policies may weaken the yen by another 8 percent.