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Donald Phillips

A good entry point for high yield

With recent events causing high yield bond spreads to spike above 6%, Donald Phillips explains why investing at this level has historically offered investors stronger returns. Read more
Donald Phillips

10 things everyone should know about high yield bonds

The high yield bond market is currently being ignored by investors, but we believe there are a number of reasons why this asset class should be included in portfolios. In this article, we provide 10 key points to remember about high yield (as well as our own GF High Yield Bond Fund). Read more
Donald Phillips

What does the government bond rally mean for high yield?

After the rally in rates markets since late last year, Donald Phillips investigates what we can expect from high yield returns over the coming months. Read more
Donald Phillips

Transatlantic valuation blues

With central bank manipulation continuing to skew bond markets, Donald Phillips says now is an opportune time to be reducing exposure to European high yield. Read more
Donald Phillips

Measuring success in high yield

With the GF High Yield Bond Fund passing its first year anniversary, co-manager Donald Phillips explains why measuring performance against traditional indices has limitations and why the Fund is pursuing a no-junk, anti-thematic approach. Read more
Donald Phillips

Looking through a zombie apocalypse

With growing focus on the so-called ‘zombie’ end of the high yield market, kept alive by years of loose monetary policy, Donald Phillips considers the impact on the sector – and the opportunity – if these walking dead were wiped out. Read more
Donald Phillips

The pitfalls of being too benchmark aware

Turkey comprises just 2% of the global high yield market and yet accounted for close to 90% of its (negative) return in the first half of August. Donald Phillips analyses why investing relative to a benchmark is fraught with danger. Read more
Donald Phillips

Moving the target

Donald Phillips outlines why the team has opted to use a new performance target to measure success on the Liontrust GF High Yield Bond Fund. Read more