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Take advantage of the illiquidity, says AllianceBernstein HY head

Illiquidity in the bond market is not a new phenomenon, according to AllianceBernstein head of high yield Gershon Distenfeld, and there are plenty of opportunities to be found in a volatile market as well as isolated market scares.

Distenfeld, manager of the AllianceBernstein Global High Yield fund, reveals how he's navigating his way through the beat up high yield market and the opportunity in  pharmaceuticals in an interview with Citywire Americas editor Atholl Simpson.

Speaking prior to Third Avenue Management announcing the block on redemptions for its high yield mutual fund, Distenfeld said the key is to find companies where you have a 'very high' level of confidence you'll get your money back while being able to withstand hits in the short term.

 

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Gershon Distenfeld
Gershon Distenfeld
95/174 in Bonds - Global High Yield (Performance over 3 years) Average Total Return: 13.33%
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