Fixed income allocations in the multi-asset Spectrum range managed by John Ventre and the £166.2m Skandia Strategic Bond Fund, managed by Anthony Gillham, are affected by the move.
The Luxemburg-domiciled Mirabaud Convertible Bonds Europe fund is managed by Renaud Martin. It aims to achieve long-term capital growth, and has a mid-cap, convertibles-focused portfolio.
Anthony Gillham, manager of the Skandia Strategic Bond fund said: “"Yields on fixed income risk assets such as high yield have fallen to levels that no longer offer the same compelling upside as earlier in 2012. As a result, fixed income investors should diversify and seek out assets whose returns are not skewed to the downside and capped by low yields.
“Convertible bonds offer these attractive characteristics and we have selected Mirabaud Asset Management’s European Convertible Bond Fund run by Renaud Martin. We believe that Mirabaud has a number of important competitive advantages versus their peers, not least Renaud’s command of stock selection issues across the convertible universe and low level of assets under management in this highly capacity constrained asset class."
A spokesperson for Mirabaud said earlier this month that its convertibles fund had generated a great deal of interest in the past couple of months as DFMs have looked to diversify from traditional fixed income assets without plunging head first into increasing equity exposure.
