One of the unlikeliest safe havens in 2011 was UK gilts (bonds).
Because of its high debt load and dreadful economy, people don’t frequently talk about gilts as a safe haven on part with US Treasuries, but they performed just as well (for reasons that we explained here).
Today yields on the 10-year gilt are dropping below 2% for the first time since Bloomberg started keeping score, perhaps in keeping with a year end move by managers to get into assets that have performed well lately.
The Bedford Park Opportunities Fund returned 13.5% net of all fees and expenses in the second quarter of 2021, bringing its year-to-date return to 27.6%. Q2 2021 hedge fund letters, conferences and more In the fund's second-quarter investor letter, which ValueWalk has been able to review, Jordan Zinberg, the President and CEO of Bedford Read More
#UK 10 year gilt yield falls below 2% for 1st time (since 1989 when BBG started collecting data) hitting 1.999%.
— Linda Yueh (@lindayueh) December 23, 2011
Here’s a look at their amazing year.