Wealthy Tap Into ‘Pockets of Opportunity’ With World Bonds, MBS

Robert J. Frey, a former managing director at hedge-fund firm Renaissance Technologies Corp., is trying to preserve his wealth by taking on moderate risk and investing in international bonds.

“You have to branch out now and be opportunistic in this low-rate environment,” said Frey, 56, who runs Frey Quantitative Strategies, an asset-management firm, and splits his time between London and Port Jefferson, New York. “But you can’t be overconfident and take on unacceptable levels of risk to hit home runs.”