National Bank of Canada is striking a partnership with Bill Gross, once dubbed “the king of bonds.”
The country’s sixth-largest bank started a new global fixed-income fund mid-last month and its portfolio is being managed by Mr. Gross and the team at Denver-based Janus Capital Management LLC.
The NBI Unconstrained Fixed Income Fund will invest mainly in fixed-income securities of issuers with various maturities and credit ratings, according to the fund’s prospectus. It also includes a mix of other asset classes including common and preferred shares, mortgage-backed securities and derivatives. Up to 25 per cent of the fund’s net assets can be invested in high-yield bonds.Report Typo/Error
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