What to know about developed “Bond prices may fall more than equity prices rise in risk-on scenarios and rise less than equity prices fall in risk-off scenarios” benchmark, and can have low fixed-income exposure in our funds. Instead, we own under-priced assets relative to their cashflow and provide diversification by behaving differently to mainstream equities. These include cash, gold, energy exposure and a basket of cheap, idiosyncratic companies. These offer higher long-term returns than developed market bonds, as well as better yield and diversification benefits. market bond yields
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