Trying to time interest rates and move duration around is a fool's game, says Baird's Mary Ellen Stanek.
Morningstar is not making any changes to its ratings on the PIMCO lineup of mutual funds as a result of the departure.
2014 was full of surprises.
With more-reasonable fees and an impressive record, the recently upgraded Loomis Sayles Core Plus Bond is an attractive option for risk-takers.
These funds have shone in a year that's offered some surprises for bond-fund investors.
We review our top-rated funds in the intermediate-term bond category.
With its seasoned management team, relatively cautious approach, and rock-bottom expenses, Vanguard High-Yield Corporate will offer a smoother ride than many of its peers.
As Fed policy tightens over the short term, investors will have to actively manage interest rate exposure while looking ahead to a 'new neutral' in the next three to five years, says PIMCO's Jerome Schneider.
A shift is under way in the makeup of the taxable-bond universe.
The risk of bank-loan defaults is muted at the same time investor demand for such products remains elevated, but this volatile asset class is not for near-term cash needs, says Fidelity's Eric Mollenhauer.
This Gold-rated, high-yield fund has a good long-term record and a strong management team whose approach is neither too aggressive nor conservative.
A three- to five-year investment time frame and the discipline to fully understand an issuer's creditworthiness have served Dodge & Cox Income well, says manager Tom Dugan.
Management's foresight to have less rate sensitivity in the portfolio allowed the Gold-rated fixed-income fund to generate a positive return in 2013.
Instead of outguessing short-term interest rate moves, fund shop Baird looks to add value on yield curve positioning, individual security selection, and sector allocation, and is currently finding opportunities in corporates.
Those buying bank-loan funds now may be trading one risk for another.
The company veteran replaces Charlie Morrison, who now oversees asset management at the firm.
With low yields and stretched valuations, today's bond market is a lot more about bond picking and building specific risk into the portfolio, says Loomis Sayles' Elaine Stokes.
Several of Morningstar's favorite muni funds have been shining in 2013's rocky markets.
Concerns about the Motor City bankruptcy have helped rattle muni markets, but how much direct exposure does the typical muni-bond fund hold?
We continue to be concerned about rates, says Dodge & Cox Income manager Dana Emery, but also are eyeing possible areas of opportunity as credit spreads have widened.
The current credit environment is benign and stable, and investors should expect a coupon-type return over the coming years, says First Eagle's Sean Slein.
FPA's Tom Atteberry says interest rates are at unsustainable levels and offers his strategies and opportunities for managing a portfolio in an uncertain bond market.
Fears of rising interest rates have faded some, but this category still has appeal.