Minerd, a frequent guest on Bloomberg TV and CNBC, is one of Wall Street’s most visible bond-fund managers. A member of the Federal Reserve Bank of New York investor advisory committee on financial markets, Minerd is known for his bold predictions on markets, economics and central bank policies. He joined Guggenheim, which is run by Chief Executive Officer Mark Walter, in 1998 after high-flying stints at Merrill Lynch, Morgan Stanley and Credit Suisse First Boston.
Minerd’s funds have consistently outperformed peers even as Guggenheim underwent management conflicts and high-level departures. The $9.7 billion Guggenheim Total Return Bond Fund has returned an average 4.3 percent over the last five years, outperforming 96 percent of its Bloomberg peers.
Guggenheim is about 45 percent owned by employees. It has several insurance affiliates and an investment-banking division headed by Wall Street veteran Alan Schwartz, the last CEO of Bear Stearns & Co. A strategic investment would require agreement from the company’s stakeholders such as Sammons Enterprises Inc., which controls about 35 percent of the firm; co-founder Todd Boehly, who left in 2015 to run Eldridge Industries; and Peter Lawson-Johnston II, a Guggenheim family descendant.
This article was provided by Bloomberg News.