A global bond fund isn't where you'd expect to find gold. But that's one of the characteristics of the newly launched TD Global Income and TD Global Unconstrained Bond. Also noteworthy for these funds, which TD Asset Management Inc. formally launched today, is their veteran portfolio manager Scott Colbourne, who rejoined the company on Nov. 1 as managing director, global active fixed income.
The two new offerings bring to three the number of TD funds in the Global Fixed Income category. They join TD Global Core Plus Bond. All three funds are able to invest in both developed and emerging markets around the world, and in both investment-grade and high-yield securities. But in practice, TD Global Core Plus Bond hasn't been particularly global. At last report, 43% of its assets were Canadian, and most of the rest -- 44% -- were American.
Drawing on his extensive experience as a global manager, Colbourne is likely to provide much greater exposure outside Canada generally for the TD fixed-income line-up, and especially outside North America including both developed and emerging markets. High-yield securities may also play a greater role.
