October 15, 2018 / 9:09 AM / a month ago

BlackRock multi-asset fund increases exposure to short-dated U.S Treasuries

LONDON, Oct 15 (Reuters) - BlackRock’s Global Multi-Asset Income Fund has increased exposure to short-dated U.S. government bonds as a hedge against heightened volatility, portfolio manager Michael Fredericks said on Monday.

Fredericks, who oversees over 27 billion euros in assets under management, said in a note that rising interest rates provide better risk/reward opportunities but the multi-asset fund remains focused on taking “prudent” amounts of risk.

“We continue to own a modest amount of duration, but we increased exposure to the front end of the curve, where yields are more attractive today, to serve as a hedge against heightened market volatility,” he said in the note. (Reporting by Abhinav Ramnarayan Editing by Tommy Wilkes)

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