The contrasting fortunes of the US, UK and Europe are causing a fixed income allocation headache for advisers and investors. Stewart Smith attempts to provide some relief...
The Investment Association categorises the IA Sterling Strategic Bond sector as containing funds that invest at least 80% of their assets in sterling denominated (or hedged back to sterling) fixed interest securities, excluding convertibles, preference shares and permanent interest bearing shares. At any point in time, the asset allocation of these funds could theoretically place them in another IA fixed interest sector but the funds will remain in this sector on these occasions since it is the manager's intention to retain the right to invest across the sterling fixed interest credit ri...
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