Bond investors want more attention from investor relations departments
As the equity markets went from bad to worse in early 2001, a lot of institutional investors looked for a safe haven in corporate bonds. Instead they hit a meltdown in 2002. The second quarter saw a record $42.6 bn in bond defaults, never mind the $30 bn WorldCom defaulted on in July. A Merrill Lynch study finds that most US bond fund managers dramatically lagged the indexes in the first nine months of this year, particularly as their enthusiasm for corporate bonds meant they missed out on
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