As investment managers, we recognize the fundamental role fixed income investments play in constructing a well-diversified portfolio. However, in the real world, the decision of how best to invest in fixed income is not always easy. In today’s market, bonds are expensive. Yields across the globe are flirting with all-time lows and spreads are the tightest they have been in decades. With this backdrop, allocations to traditional bond strategies have slowed, and investors are searching for new a