Bond Fund Manager Favors Asset Backed Debt in Low Rate Environment
One fund manager finds investment opportunities in subprime auto loans.
Tom Atteberry, who manages the FPA New Income Fund, is investing in asset backed securities as a way to generate additional yield for bond investors. Atteberry favors securities backed by subprime auto loans, and avoids high yield debt. TheStreet's Rhonda Schaffler has details from Wall Street.
