INVESTEC'S Sterling Bond fund has adopted wider investment powers under UCITS III, partly in an attempt to turn around flagging performance.
The third quartile fund, which returned 2.61pc over one year according to Lipper against the IMA UK Corporate Bond sector average of 2.95pc, will now use derivatives to invest more efficiently, and exploit a wider range of investment opportunities. John Stopford, head of fixed income at Investec and co-manager of the fund alongside Harsha Patel as well as Anna Lees-Jones who is on maternity leave, said: “Performance has been average but that is not the only reason why we are changing to UCITS III. “There is a general view that bond markets have changed and investors will be disappointed w...
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