The upcoming U.S. presidential election maybe on the minds of many investors, but finding attractive yield is not too far behind.

"Clients are desperately seeking income," said David MacEwen, co-chief investment officer of American Century Investments. "They should consider holding core bonds in their portfolio, as well as income-oriented stock funds that offer downside risk protection while generating a reasonable amount of income."

From a macro perspective, MacEwen said the divergence between U.S. and non-U.S. growth continues. China remains a key bellwether in his view, but more focus has shifted to Europe. Meanwhile, the U.S. continues to be a bastion of relative economic strength even as manufacturing remains muted, and questions linger in the corporate sector.

"The slow economic growth in the developed world is dampening inflation," said MacEwen. "A stronger U.S. dollar could also help keep inflation contained. We're keeping an eye on U.S. core inflation."

In terms of investing opportunities, MacEwen said emerging markets are benefiting from global macroeconomic trends. Relative growth rates are improving compared with developed markets, and the search for yield is driving inflows. He added that fundamentals have improved in the emerging markets as well.

Domestically, MacEwen said "old tech" is finding ways to innovate and grow, and "new tech" is fueled by demand in enterprise and consumer markets. He is more bullish on the equity side of tech than the debt, however, due to the rash of mergers and acquisitions that may upset balance sheets.

"Investors need to be wary of stretched utilities stock valuations, but within financials, well-managed banks may be poised to outperform," said MacEwen. "We also see energy opportunities for midstream pipeline operators and within real estate, logistics real estate is a beneficiary of e-commerce."

On the U.S. fixed-income front, he said positions outside of agency mortgage-backed securities address prepayment risk. He is also a fan of low loan balance mortgage pools and Treasury Inflation Protected Securities, saying the "price of inflation protection remains low."

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