InvestNow News – 24th April – AMP Capital – Cash, NZ Fixed Income and NZ Short Duration funds quarterly update

Vicky Hyde-Smith, Head of NZ Fixed Income, provides a short update on AMP Capital’s Cash, NZ Fixed Income and NZ Short Duration funds for the March 2020 quarter.

The quarter saw significant moves in bond yields, the likes of which haven’t been seen since the GFC, and a collapse in oil prices added to investors’ woes. Initially interest rates moved sharply lower, completely reversing the December quarter moves in rates, so we did see some positive returns. But as the crisis took hold in March fixed income yields spiked higher at the same time equities sold off as investors sought safety in cash.