 Local bond fund managers are expecting to make returns of 3 to 6 in the next three years amid a challenging environment, assuming a low default rate in the local bond market coupled with central banks continuing to ease monetary policies to support their respective economies. Covid-19 has infected about 6.6 million people, with nearly 400,000 deaths worldwide at the time of writing. The pandemic has made a huge dent in the global economy as many countries locked down their cities and controlled their borders in an effort to stem the spread of the disease. 