Jupiter's Corporate Bond fund offered investors one of the largest income streams in the corpor...
Jupiter's Corporate Bond fund offered investors one of the largest income streams in the corporate bond sector over the course of the 12 months to the end of February.
According to figures from Lipper, based on £1,000 invested 12 months ago, Jupiter Corporate Bond posted total bid to bid returns of 8.52% and produced income of £51.94. While Credit Suisse Corporate Bond Monthly Retail featured a higher level of income, at £61.71, its total return was lower at 3.69%. The Credit Suisse fund, managed by Kevin Adams, also featured more negative months over that time period, compared to John Hamilton's Jupiter portfolio, posting negative returns five months out of 12 compared to just three by Hamilton.
Of the funds in the UK Corporate Bond sector, Old Mutual Corporate Bond posted the largest 12 month gain at 10.68%. The portfolio, managed by Richard Woolnough, also offered an income stream of £40.59 over the 12 months.
and suffered just four negative months.
While March 2002 was a difficult month for both the Jupiter and Old Mutual funds, October 2002 proved the most difficult for the majority of the funds in the sector. Due to the buoyancy of the credit markets over the past year, even the largest negative returns recorded over the year were limited. The largest monthly fall was 3.59%, posted by the Morgan Stanley IF UK Long Bond in , followed by a return of -3.57% achieved by Insight Investment UK Corporate Bond, achieved in October.
For more analysis of the Corporate Bond sector return statistics, see page 50.
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