CGU hits sector bottom

Mark Gull, manager of the CGU PPT Monthly Income Plus fund, said the fund's recent underperformance has been caused by its exposure to preference shares. The CGU PPT Monthly Income Plus fund is bottom of the UK corporate bond sector over three months and one year to 6 September, having previously outperformed`the sector average for a number of years. Over one year the fund is down 8.5%, on an offer to bid basis, and ranked bottom out of 73 funds in its category. The fund gained 14.8%, on an offer to bid basis, over three years and ranked 33 out of 54 funds but has steadily dropped away...