Letter to Shareholders Value Bonds Q1 2015

“As oil prices bottomed out and secondary market liquidity improved… the High Yield strategy started to perform late in the quarter. The fund is also posed to benefit from the ECB’s QE programme”
In their Q1 2015 Letter to Shareholders, Sparinvest’s Value Bonds team look at the impact of currency volatility, the introduction of QE in Europe and the prospects for Sparinvest’s corporate bonds strategies against a backdrop of disappointing growth in the US and China.

Read more here.