AMP Says Bonds No Longer a Hedge, Cuts From Some Pension Funds

AMP Ltd., one of Australia’s top asset managers, has ditched bonds from some of its retirement funds with sovereign debt no longer offering the diversification investors have relied on for decades as a ballast against stock volatility. AMP Ltd., one of Australia’s top asset managers, has ditched bonds from some of its retirement funds with sovereign debt no longer offering the diversification investors have relied on for decades as a ballast against stock volatility.