After a lousy year for bonds in 2022, the outlook is better. So much better that Sara Devereux, global head of the fixed-income group at Vanguard, has taken to sporting a button around the office declaring, “Bonds Are Back.”
“I haven’t seen this kind of opportunity in a long time, after a decade of yields at the zero lower bound,” says Devereux, whose unit has more than $2 trillion in assets under management.
Vanguard is the world’s second-largest asset manager, with $7.7 trillion in assets under management. In bonds it is best known for index funds. But it is also one of the biggest providers of U.S. active bond funds, with $890 billion in assets, and Devereux is helping lead the charge in active management.
Barron’s
By Lauren Foster
Updated June 8, 2023