The bond world changed dramatically in 2022. From several years of historically low to negative interest rates, as far as the eye could see, the horizon is now filled with rising rates across the globe. It’s a welcome change for yield-starved investors and fixed-income managers who have been coping with a record breaking yield drought.

One of them is this weekend’s guest who recently reopened his fund to new investors because of the “improved opportunity set.” He is Tom Atteberry, now Senior Advisor to FPA New Income Fund having just retired, as planned, from his portfolio manager duties in July of this year. He had been Portfolio Manager of the fund since 2004.

Atteberry will discuss why they have reopened the fund and where they are investing now. He will also share his current preference for asset-backed bonds over Treasuries and corporates.

WEALTHTRACK Episode #1911 broadcast on September 09, 2022

Listen to the audio-only version here:

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TOM ATTEBERRY

Senior Advisor,
FPA New Income Fund

ACTION POINT

BUY SOME U.S. TREASURY I BONDS

U.S. TREASURY I BONDS:

Inflation-Protected U.S. Savings Bonds
Current yield: 9.62%
Coupon reset every 6 months to adjust for Consumer Price Index
Designed for individual savers
Minimum purchase: $25.00
Maximum purchase per account per year: $10,000
Mature in 30 years
Must be held for 1-year minimum
Redeemable with penalties before 5 years
No penalties after 5 years
Interest exempt from state & local taxes
No federal tax until redeemed or maturity
Buy online through TreasuryDirect.gov

ONE INVESTMENT

CRITICAL ASSETS

Buy asset-backed securities (ABS)
Focus on loans and leases on critical assets for households and businesses
- Examples: commercial insurance premiums, apartment buildings and homes

FROM THE ARCHIVE

Tom Atteberry from the WEALTHTRACK Archives:

WEB EXTRA

NEW LIFE FOCUS

Now that award-winning bond fund manager Tom Atteberry has retired from his daily portfolio management duties, how is he going to spend his time? In his new role as Senior Advisor at FPA, the bond markets won’t be entirely off his mind.