Fixed income & high yield: Slow and steady


The Absolute Return Fixed Income & High Yield Index climbed 0.50% in September as credit funds continued their steady if modest rise this year, to total 5.91% YTD. Strong performers include VegaPlus's Element Capital Fund, which posted 3.96%* for the month, and Whitebox Advisors' High Yield Fund, returning 1.70%. Other portfolios managing to beat the median include Oak Hill Contingent Capital, which netted 0.65%*, and Warren Mosler's III Fund, up 0.05%. Slight losses were reported by BlackRock's Obsidian Fund, down 0.75% to total -4.70% for the year, and Pequot's Short Credit fund, which lost 0.90% for the month.