“It’s always hard to eliminate an asset class because I’m a staunch believer in diversification. But if you push me hard enough, I’d tell you that I would have no allocation to Treasury securities at this point,” Minerd said in the interview.
Instead, he likes corporate bonds and mortgages for their higher yields, as well as floating-rate securities. [Best ETFs for Floating Rate Bonds]
Privately held Guggenheim Partners manager over $125 billion in assets. The ETF business is part of Guggenheim Investments.
Earlier this week, the chief operating officer of Guggenheim investments, Richard Goldman, and two other top executives were let go as part of a reorganization of the firm, reports Jessica Toonkel at Reuters. Goldman had been chief executive of Rydex.
The departures come amid speculation that Guggenheim Partners is in talks to acquire Deutsche Bank AG’s asset management business, according to the report.
Read the disclaimer; Tom Lydon is a board member of the funds for Guggenheim Investments.