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10 September 2026
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The money in a bond fund never 'matures' as the manager automatically reinvests both interest and principal, whereas a direct investment in a bond comes to an end on maturity.
Bonds have the most predictable returns of any asset class, yet they are often maligned and misunderstood by market commentators who call them risky. Follow the 13-year life of this April 2015 bond and decide for yourself.
Cuffelinks reader, James, has some additional questions covering: bonds for capital gain or income, bonds in a growth strategy, passive vs active investing, unconstrained bond funds and duration risk.
In response to a reader's question regarding bond funds, we asked our bond guru to explain, in layman's term, the workings of bond funds and what features to look for before investing in this asset class.
Sub-investment grade investments, or ‘junk bonds’, pay well but carry a higher risk of default. If the risk is managed properly, a broad portfolio of high yield securities can be a worthwhile investment option.
Investors should not shun bonds in their portfolios due to a misunderstanding about the potential for earnings to grow at least in line with inflation. Fixed income has a role in inflation risk management.
For generations, Australian investors have backed banks, miners and dividends. But has that loyalty come at a cost? A look at the numbers raises an uncomfortable question about where future returns will come from.
The housing debate tends to focus on prices, interest rates and deposits. Yet an overlooked feature of the mortgage itself could help buyers enter the market sooner without abandoning prudent lending standards.
Thinking about an SMSF? Before you sign anything, learn how to spot the difference between genuine advice and a sales pitch, understand the real costs, and avoid the compliance mistakes that attract ATO attention.
Market conditions are shifting as familiar yield sources quietly lose momentum. Australian public credit may be the most compelling source of income in today's market but many investors haven't noticed the shift.
Reporting season has delivered a clear message: the market is no longer paying simply for quality, resilience or an earnings beat. It is paying for change in earnings expectations and the outlook ahead.
Some of history's most important innovations changed the world while leaving investors much poorer. As trillions pour into AI, a familiar pattern may be emerging, one that rewards society far more generously than capital.
August reporting season delivered strong earnings and bigger-than-expected dividends, but beneath this, a more nuanced story emerged. First Sentier Investors’ David Wilson and Christian Guerra unpack the key trends.