My unit trust portfolio recovered in March but the return was still in red. YTD return was -0.13% as of March 2016. I received $143.45 in cash distributions. I'd been wanting to reduce my exposure on high yield bonds after listening to Carl Icahn's videos, so I completely liquidated these 2 high yield bond funds during March recovery: Legg Mason WA Global HY Fd A SGD H (mdis) plus - $6,251.87 Allianz US High Yield AM Dis H2-SGD - $2,911.43 High yield bonds were issued by companies with credit ratings below investment grade, and therefore offered higher interest. In Icahn's view, diversifying by holding high yield bonds from different companies didn't help reduce risks. He drew the parallel between high yield (junk) bonds and subprime mortgage securities. In the search for yield, the price of the junk bonds had been chased to potentially bubble level. I ......