The fund manager wins when bond prices fall.
(Photo: Bernd Roselieb for Handelsblatt)
Frankfurt The yield on the ten-year federal bond rose to 1.2 percent on Thursday – it was last this high eight years ago. A beneficiary of The well-known DWS fund manager Klaus Kaldemorgen is responsible for the mirror image of the falling bond prices.
“I’ve even increased my commitment, with which I’m betting on falling German and other European government bond prices,” said the manager of the more than 13 billion euro mixed fund “DWS Concept Kaldemorgen” at an event of the Deutsche Bank fund house.
After the offensive turnaround in interest rates by the US Federal Reserve, he also remains prepared for falling prices for US government bonds, but has reduced these positions. Kaldemorgen justified his negative attitude towards bonds with inflation, which he believes will remain at a high level for a long time.
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