Old Mutual Global Investors has converted its Ireland-domiciled Old Mutual Global Strategic Bond Fund into the Old Mutual Strategic Absolute Return Bond Fund.
The fund will continue to be jointly managed by Mark Nash, Old Mutual’s head of global bonds, and Nicholas Wall, global bond fund manager.
Old Mutual says it believes the change is in “the best interest of investors given the rising demand for absolute return funds which aim to deliver long-term positive total returns” and that “this shift in focus represents the best opportunity for the fund to grow assets”.
The rebranded fund will aim to generate positive returns on a rolling 12-month basis, with stable levels of volatility, uncorrelated to bond and equity market conditions.
Old Mutual says that the fund’s portfolio managers will aim to generate alpha returns from across developed and emerging market fixed income and currency markets.
“Absolute return funds continue to grow in popularity as investors aim to generate consistent returns in today’s uncertain and low-yielding markets,” said Nash.
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