TCF concerns arise over bond pricing

The failure has forced fund managers to manually calculate market valuations themselves, leading to concerns bond funds are posting performance figures based on potentially incorrect data. Stephen Snowden of Old Mutual recently confirming he was pricing up to 50% of his fund independently. Meanwhile, Chris Bowie, head of credit at Ignis, has also sought to actively address the discrepancy. "We've been aggressive in trying to be more realistic in the valuation of our bonds and this has a big impact on performance," Bowie says. "A lot of people just accept the pricing that comes into iBo...