Sanlam Strategic Bond Fund I GBP Acc
New for 2019. Looks for value with an eye on the economy
The management of this fund moved to Man GLG when it acquired Sanlam’s strategic bond business in October 2018. Portfolio managers Craig Veysey and Francois Kotze moved to Man Group as part of the deal.
Veysey has 17 years’ experience in fund management, serving as head of fixed-income at Sanlam since 2009 and as the lead portfolio manager on the strategic bond fund since its launch in 2012. Kotze has worked alongside Veysey as assistant portfolio manager since 2017.
Man GLG says the fund’s strategy – focused on finding global value opportunities in corporate and government bonds – maintains a consistent approach, philosophy, process and toolkit.
The duo aim to produce high monthly income and capital growth potential by unearthing attractively valued bonds, primarily in the investment-grade and higher credit quality section of sub-investment-grade stock.
They initially use a proprietary screening tool before conducting more detailed credit analysis. To this end, they apply a macro overlay, and adjust duration and currency exposures in line with the prevailing economic backdrop.
Risk control is a key part of the process. The managers aim to ensure the various parts of the portfolio work together, thus preventing individual positions, themes or ideas from dominating portfolio performance and reducing volatility.
Banks accounted for a quarter of the fund’s assets at the end of 2018. Bonds issued by HSBC and BNP Paribas were among its top 10 holdings. Government bonds were the second-largest allocation, at almost 18%.
Narrative and ratings content all as of 01 January 2019.See all Money Observer rated funds
|United States Treasury Bonds 3%||3.95 %|
|United Kingdom of Great Britain and Northern Ireland 1.62%||3.80 %|
|Italy (Republic Of) 2.7%||3.73 %|
|United States Treasury Notes 2.88%||3.31 %|
|France (Republic Of) 2.5%||3.30 %|
|United States Treasury Bonds 3.12%||3.11 %|
|United Kingdom of Great Britain and Northern Ireland 1.5%||2.97 %|
|United Kingdom of Great Britain and Northern Ireland 4.25%||2.94 %|
|United Kingdom of Great Britain and Northern Ireland 3.5%||2.84 %|
|Lloyds Bank plc 13%||2.71 %|
Data provided by Morningstar.
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