Fund flow data showed that Fisher Investments, the firm founded by billionaire Ken Fisher, was a key force behind a record $4 billion inflow earlier this month into a BlackRock exchange-traded fund that invests in U.S. Treasuries with maturities of 20 years and longer. The positioning points to a contrarian bet that the longest-dated Treasuries could rise as yields sit near 20-year highs, creating what the firm appears to see as an opportunity. At the same time, a separate BlackRock U.S. Treasury fund with a shorter average duration posted a similar-sized outflow, indicating that capital rotated toward the longer end of the yield curve. A spokesperson for Fisher Investments said the firm could not comment on individual securities because of its fiduciary duty to clients. The report was cited by Odaily and attributed to Cailianshe.
Fund flow data showed that Fisher Investments, the firm founded by billionaire Ken Fisher, appears to be betting that the longest-dated U.S. Treasuries will rise, taking a contrarian position to seek gains from yields that are near 20-year highs.
Earlier this month, Fisher Investments was a main driver behind a record $4 billion inflow into a BlackRock exchange-traded fund that invests in U.S. Treasuries with maturities of 20 years and longer.
At the same time, another BlackRock U.S. Treasury fund with a shorter average maturity saw a similar-sized outflow, signaling that money shifted toward the longer end of the yield curve.
A spokesperson for Fisher Investments said the firm could not comment on individual securities because of its fiduciary duty to clients.
The report was attributed to Cailianshe.
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