Median global and international bond managers outperformed their bogeys in the fourth quarter, according to preliminary results from InterSec Research Corp.
The median manager in InterSec's global fixed universe returned 4.8% in U.S. dollar terms vs. 3% for the Salomon World Government Bond Index. The median manager in the firm's international fixed universe returned 3.6% vs. 2.1% for the Salomon World Government ex-U.S. Bond Index.
For the year, the median global bond manager's return was 19.4% vs. an index return of 19%. But the median international bond manager returned 18.8%, down from the index return of 19.6%.
