Tim Musial, CFA
February 25, 2020
When we talk about the differences between active and passive investing, the conversation almost always revolves around equities. And while some arguments used for equities are the same for fixed income, there are notable differences, which tilt the advantage toward active investing.
Our fixed income investment team wrote an article highlighting the differences between active versus passive fixed income investing. In the article, they discuss the inherent weaknesses of the most commonly used fixed income benchmark, the Bloomberg Barclays U.S. Aggregate Bond Index. They show how the benchmark’s shortfalls can become opportunities for enterprising active managers seeking to generate excess returns and manage risk.
The shortfalls include:
To learn more about the differences between active and passive fixed income investing, read our article Active Vs. Passive Fixed Income Investing or contact your CIBC Private Wealth advisor for more information about our fixed income investing capabilities and how we can help you protect and growth your wealth.
Tim Musial is a fixed income portfolio manager for CIBC Private Wealth Management with more than 20 years of experience. His role includes contributing to the firm’s fixed income portfolio strategy, analysis and trading of both taxable and tax-exempt bond investments.
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