Taking second place on a five year absolute return basis in the Bonds – Global Flexible sector is Jupiter’s Ariel Bezalel. He has run the Jupiter JGF Dynamic Bond since May 2012. Bezalel can invest a significant portion of the fund in high yield bonds, investment grade bonds, government bonds and convertible bonds.
His current strategies include his like for US treasuries, Australia and New Zealand in government bonds but dislikes the German 10-year bund, Japanese governments bonds and also the French 10-year OAT.
Within broader credit themes he currently likes Japanese convertibles and gold mining convertibles and dislikes Long duration credit. Bezalel is currently taking a cautious stance and is finding selective opportunities in emerging markets.
Over the past five years, Bezalel returned 36.32% in the Bonds – Global Flexible sector. In comparison, the average manager returned 13.05% over the same five-year period to the end of June, in US dollar terms.