Threadneedle European shifts to corporate bonds

The mandate of the Threadneedle European Bond fund has been changed to enable it to up its yield by investing a greater proportion of the portfolio in corporate paper. The fund, managed by Sandra Holdsworth, will be able to invest up to 40% in investment grade corporate bonds, double the previous internal constraint. The move reflects Threadneedle's view that the investment grade corporate bond market is rapidly maturing and will offer greater yield-enhancing opportunities as the European government debt market converges and issuance slows because of the single currency and EU restricti...