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Lokicious wrote:
Can you find any examples of [duration that is greater than average maturity]?

I don't think you will find any normal bond funds where duration is greater than maturity. The closest you will come is with funds that invest only in zero coupon bonds. Then, duration and maturity are equal.

You will find durations greater than maturities only in specialized institutional funds that utilize leveraging, and that's probably not something the average investor would ever get involved with.

I was just trying to make a point that the term 'duration' is often misunderstood, and that when used correctly, it is a very powerful tool for evaluating the risk of a bond (or bond fund).

Russ
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