As of 20 January, Dan Daldry is the co-manager for the Dynamic Bond Fund and the Monthly Income Bond Fund. Kenny Watson will assume the co-management role for the Sustainable Corporate Bond Fund.
Both co-managers joined the firm’s fixed income team in mid-September last year. Watson has been brought in to focus specifically on credit and high yield, while Daldry will provide the portfolios with financial credit analysis.
“The fund has delivered strong performance during a year of very difficult macro conditions as we aim to deliver an annualised 6% total return over rolling three year periods. The returns have been similar to the UK corporate bond market but with much lower volatility,” co-manager Stuart Steven said, commenting on the Dynamic bond fund’s performance in the past 12 months and a look ahead to 2014.
The fund’s other co-manager, Juan Valenzuela, added:
“We have seen great interest in the new fund with particular interest in the fund’s low volatility and flexibility of strategy. The fund is highly liquid so has significant capacity which is important for institutional and discretionary managers.”
Government bonds, corporate bonds, inflation-linked bonds, bond futures, interest rate swaps, credit default swaps and FX forwards are a few of the wide range of instruments used in the portfolio.
The global strategies include duration and credit positioning as well as range of relative value strategies including yield curve strategies, cross-market strategies and credit opportunities.
