We expect more volatility ahead, as the market sorts out the risks against minimal investor compensation. We ask our investors to be patient as higher compensation for risk will eventually be available for the investors. Read on in our BBH Limited Duration Fund and BBH Income Fund updates.
Last year’s fundamental credit challenges have now given way to this year’s valuation challenges. While massive federal aid and a rebounding economy have fueled investor demand for low-rated debt, we have patiently added positions that satisfy our criteria. Read on in our BBH Intermediate Municipal Bond Fund update.