Investors should get out of bonds as rates rise and diversify their portfolios with exposure to commodities such as agricultural products, oil and metals facing supply disruptions due to the war in Ukraine, according to Rebecca Patterson, chief investment strategist for Bridgewater Associates.
“You should absolutely have commodities in your portfolio,” Patterson said during an interview last Friday with David Westin on Bloomberg Television. “We don’t know if bonds as a diversifier are dead or in a coma. I think they’re probably in a coma,” she said on “Wall Street Week.”
Stocks and bonds swung wildly this week as investors sought clues to the economy’s direction, Federal Reserve policy and the impact of the war in Ukraine. The Bloomberg US Aggregate Bond Index is down 7.9% this year through Friday, compared with a 5.8% loss for the S&P 500 Index.
Bridgewater Associates, which oversees $150 billion, posted a 16.3% return in the first quarter as macro funds benefited from volatility in global markets.
Gregory Peters, co-chief investment officer at PGIM Fixed Income, said bonds are getting more attractive as yields rise and provide protection against a potential recession.
“Bonds are increasingly attractive here, not less attractive,” Peters, whose firm had almost $1 trillion under management as of Dec. 31, told Westin. “We’re seeing more alpha opportunities than we have in a long time. So somewhat perversely, we’re pretty excited.”
The group led by a 37-year industry veteran brings $470 million in assets to the Philadelphia-based broker dealer.
The Atlanta, Georgia-based national wealth firm revealed its new PE partner as prior backers Wealth Partners Capital Group and HGGC’s Aspire Holdings exited their investments.
The latest departures in Ohio mark another setback for the hybrid RIA, which is looking to "expanding its presence across all models and segments of the wealth management industry.”
The St. Louis-based real estate investment firm gives the asset management giant a valuable access point to the roughly $1 trillion net lease market.
Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
