Sanlam Strategic Bond Fund I GBP Acc

Sterling Bonds

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.

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Name
Sanlam Strategic Bond Fund I GBP Acc
Manager
Sanlam Asset Management (Ireland) Limited
Type
Open Ended Investment Company
ISIN
IE00B7VMRB30
Sector
£ Strategic Bond
Launched
08/05/2014
OCF
0.64 %
Risk Rating
2
3 Year Sharpe
1.76
3 Year Alpha
5.49
Yield
0 %
Benchmark
N/A
The Investment Objective of the Fund is to provide a total return for investors, with a monthly income and the potential for capital growth. The Fund will seek to achieve its investment objective by investing primarily in investment grade government and corporate bonds (which may be fixed or floating), cash and cash equivalents (including: deposits, treasury bills, certificates of deposit, bankers acceptances and commercial paper). The Fund may also invest on an ancillary basis (and/or on a “when issued” or delayed delivery basis) in floating rate notes, convertible bonds, preference shares and covered bonds.
Holding %
France (Republic Of) 2% 4.80 %
Italy (Republic Of) 3.85% 3.96 %
France (Republic Of) 5.5% 3.78 %
Australia (Commonwealth of) 2.75% 3.45 %
United States Treasury Notes 3.12% 2.88 %
Italy (Republic Of) 3.45% 2.80 %
Germany (Federal Republic Of) 4.75% 2.79 %
Lloyds Bank plc 13% 2.76 %
Santander UK PLC 2.40 %
Brit Plc 6.62% 2.37 %
Name
Sanlam Asset Management (Ireland) Limited
Address
Ireland
UCITS
Yes
Legal Structure
Open Ended Investment Company

Managers

Craig Veysey
Joined 03/01/2012

Craig joined Man GLG in October 2018 from Sanlam FOUR Partners, where for six years he managed a strategic bond strategy focused on investing in attractively valued corporate and government bond opportunities. Craig has a career spanning over 20 years in the industry. He was responsible for fixed income at Sanlam since 2009 and was the lead fund manager on the Sanlam Strategic Bond strategy since its launch in 2012. Previously, Craig managed global bond funds at Scottish Widows Investment Partnership and WestLB Mellon Asset Management. Before this, he was a senior member of the Global Fixed Income team at HSBC Investment Management. He qualified as an Associate of the UK Society of Investment Professionals in 2001 and is a CFA charterholder. Craig has a degree in economics from Liverpool University and a master’s degree in finance and investment from Exeter University.

Data provided by Morningstar.

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