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It is intersting that my Fixed Income Sleeve Xrays at (net) 16% Cash, 74% Bonds, Stocks 4% and Other Assets 6% while overall it is 106% long. My Hybrid Income Sleeve Xrays at (net) 0% Cash, Bonds 53%, Stocks 26% and Other Assets 21% while it is 116% long.
Dan Fuss of Loomis Sayles Bond fund changed the prospectus several years ago that allows it to invest up to 20% in stocks. Many blue chip stocks pay dividends that are competitive to that of investment grade or even junk bonds. Going forward bonds will have difficult time delivering the level of performance they did over the last several years.
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