Janus Henderson Flexible Bond Fund returned -0.13% and the Bloomberg U.S. Aggregate Bond Index returned -0.05%.
Our overweight allocation to spread risk detracted from relative performance, as did overall yield curve positioning. Asset allocation decisions contributed.
Despite near-term geopolitical uncertainty, we believe recent spread widening and a rise in yields presents an attractive entry point and offers favorable long-term return potential for investors.
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Portfolio management
Greg Wilensky, CFA
Michael Keough
John Lloyd
Investment environment
The U.S. fixed income market posted a small negative return for the period. The quarter marked a sharp shift in sentiment, as fixed income markets moved
