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Gallo launches fund for 'negative rates world'

As the great global bond rally drives on, sending returns soaring but hammering yields down to zero and below, ex-RBS analyst Alberto Gallo has decided to try his hand and set up a macro credit fund, offering an alluring 6-7 per cent return.

When half of all developed market government bonds yield less than zero, having been hammered lower by negative rates and prolific central bank bond buying, 6-7 per cent returns on credit may sound alluring. Alberto Gallo says his new Macro Credit Fund, which starts trading next week, is “designed for a world of negative rates”, although he makes it clear it won’t necessarily be an easy ride.

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