Aegon looks at total return bond offering for Snowden
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Aegon Asset Management has confirmed that Stephen Snowden will co-manage two of the firm’s investment-grade bond funds and it is considering launching a total-return-type corporate bond offering as well as other potential funds.
Snowden, who is joining from Old Mutual Asset Managers, will co-manage the £209m investment-grade bond fund and the £11m Dublin-domiciled investment- grade global bond fund alongside Euan McNeil.
Both the onshore and offshore funds are top-quartile over three years. Co-head of fixed income David Roberts will step back as co-manager for both funds but will continue to manage the strategic bond fund, global strategic bond fund and the sterling corporate bond fund.
Snowden worked at Aegon as head of the retail fixed-income desk before joining Old Mutual in 2004 to manage its corporate bond fund.
Roberts says the firm is looking at a raft of potential products for Snowden.
He says: “We are looking across the board at products that may boost our presence in the retail market. It makes sense to take advantage of Stephen’s track record in the corporate bond space and a product with a total return mandate is something that interests us.”
Chelsea Financial Services managing director Darius McDermott says: “Stephen is a talented manager in this area. It makes sense to look at launching a product for him, given his performance figures.”
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