Ashcourt Rowan's new head of funds research has moved to counter dwindling bond market liquidity by adding funds with "more stable" asset bases to the group's buy list.
Alan Scrimger has scaled down the wealth manager's buy list for its bespoke and model portfolios, removing a long tail of funds surplus to requirements and seeking a more cohesive blend of different strategies. In the fixed income space, Scrimger is favouring Chris Higham's £2.3bn Aviva Investors Corporate Bond fund rather than more high profile peers, in the view the amount of institutional money held in the fund will make it more stable in times of stress. "Liquidity is one of the first things we consider; we do not want to take on that tail risk. Aviva Investors' Corporate Bond fun...
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