In addition, nearly half the states offer guaranteed fixed-income portfolios that use insurance policies to safeguard principal.

Some of those accounts are moving a percentage of their fixed-income portfolio into German assets, they said.

The first source of return in a fixed-income portfolio is that due to interest.

The list of best sellers is dominated by companies with strong fixed-income portfolios.

As a result, some advisers are telling investors to stick to short-term securities in their fixed-income portfolios.

The uncertainty leads some analysts to advise against making wholesale moves in fixed-income portfolios.

He also says investors should skew their fixed-income portfolios to shorter-maturity securities now.

The students now manage three fixed-income portfolios totaling approximately $40 million.

And if long-term bond yields start to fall, the value of older securities held in fixed-income portfolios is likely to rise.

"People are beginning to realize that they cannot look at a fixed-income portfolio in isolation any more."