The popularity and number of go-anywhere bond funds are growing, highlighted by a trio offerings, Morningstar reports
The free-roaming bond funds -- such as ones offered by PIMCO [see profile]
, JP Morgan [see profile]
, and Eaton Vance [see profile]
-- have grown over the past 12 months by more than 260 percent, with 20 or so funds managing some $44.5 billion at the end of February 2011, according to Morningstar.
However, buyer beware: Morningstar says these funds have
done a better job at insulating themselves from interest-rate risk than generate competitive returns.
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