Bill Eigen, a bond portfolio manager at J.P. Morgan Asset Management who’s been hoarding cash for the past three years, has finally started deploying at least some of those funds as the credit market shows signs of cracks.
Over the past few weeks, Eigen, who manages the $10 billion JPMorgan Strategic Income Opportunities Fund, has bought assets including high-yield debt, convertible bonds, as well as exchange-traded and closed-end funds for corporate debt. While he declined to specify what he purchased or how much he’s buying, Eigen said he’s seeing opportunities that haven’t existed in years.
William Eigen
Source: JPMorgan Asset Management
