What is the story behind impressive returns?

The IMA Sterling High Yield sector has posted spectacular gains recently, attracting retail investors in droves. But, high yield does involve higher credit risk and that tends to suit a narrower audience only. It was set up in September last year and is now home to 20 funds and up a magnificent 42% this year (to 21 September), according to Morningstar. To put this eye popping return in perspective, it is worth noting that high yield bond funds have significantly outperformed their US, UK and European equity counterparts over the same period in this market rally. However, the high-yield...