Attridge reduces fund risk

Bob Attridge has reduced the risk profile on the Govett Corporate Monthly Income Bond fund over the past month. Attridge, who joined Govett from Old Mutual in February and took over the fund on 17 April, has turned over 20% of the portfolio. He has increased exposure to traditional companies with BBB-rated debt within the Dublin-listed portfolio and has cut back on exposure to telecom and cable companies and to higher rated, lower yield bonds. From launch on 1 August last year to 1 May 2002, on an offer to bid basis, the fund has returned -4.1%, compared to its peer group, offshore gl...