Credit markets boost Julius Baer bond fund

The Luxembourg-domiciled Ucits III fund has returned 6.32% at 31 July 2009, outperforming its 3-Month Euribor benchmark by 2.96%. Ralph Gasser, product specialist fixed income at Julius Baer Asset Management, says performance since launch has been driven predominantly by allocations towards western interest rates and credit markets. Currencies and convertibles played a minor but positive role," he adds. The fund's outperformance is in excess of its target to outperform the benchmark by 0.75% to 1.25%. Gasser says returns from cash, retail deposits, money market and traditional s...