Jerry Paul, portfolio co-manager of the Icon Bond fund, isn’t too worried about the direction of interest rates. He focuses, instead, on what he calls “special opportunities” that can enhance the fund’s return. This value-oriented approach, the fund’s relatively small asset size of $ 84 million, and its concentrated nature — it holds roughly 60 investments — allow it to take advantage of circumstances that wouldn’t even move the needle for much larger bond funds.

Paul, who was named fixed-income manager of the year by Morningstar… – All MarketWatch News – Personal Finance