2023 Yield Hunting Strategy Review
Summary
Core Income Portfolio returned 15.51% total return in 2023, including 11.72% return on NAV and 3.8 points of discount tightening.
High yield space has more volatility than investment grade "high quality" bonds.
Trading and strategic swaps in the Core Portfolio model led to nearly 10 points of outperformance relative to the model's total return.
This…
