Fidelity Investments’ John Carlson and DoubleLine Capital LP’s Luz Padilla pursue different strategies in their emerging-market debt funds. One thing they have in common is buying bonds denominated in U.S. dollars.
Manulife Financial Corp., Canada’s largest benefits provider, and Sun Life Financial Inc. are among the nation’s insurers that have boosted revenue from money management as they shun variable annuities.
Investors are pouring more money into stock mutual funds in the U.S. than they have in 13 years, attracted by a market near record highs and stung by bond losses that would deepen if interest rates keep rising.
U.S. stocks advanced, giving the Nasdaq-100 Index its biggest gain this year, as Apple Inc.’s earnings almost doubled and Federal Reserve Chairman Ben S. Bernanke said he’s prepared to do more to stimulate growth.