Anderson to run JPM corporate bond fund
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JP Morgan Asset Management has recruited bond manager John Anderson as a portfolio manager in its fixed-income team.
Anderson joins from Gartmore Asset Management, which was recently bought by Henderson Global Investors. He managed the corporate bond fund, fixed-income fund and the Sicav European corporate bond fund.
He was one of the few leading names not to join Henderson. Other big names not joining the firm include head of UK equities Leigh Himsworth and UK equity income manager Dan Roberts.
Anderson will manage the £53m JPM sterling corporate bond fund and will report to head of credit Lisa Coleman.
He joined Gartmore in July 2009 from Rensburg Unit Trust Managers. The Gartmore corporate bond fund is currently first quartile over three years in the Investment Management Association UK corporate bond sector, returning 28.4 per cent, compared with an average of 17.2 per cent for the sector. The fixed-interest fund is bottom of the sector over three years, having fallen by 6.4 per cent.
JP Morgan head of UK retail sales Jasper Berens says: “John’s appointment marks another significant hire to our fixed-income team and underscores our commitment to delivering the best in class for our fixed-income clients.
“We have added a significant number of resources to our fixed-income capability over the last three years and can now compete with any of our major fixed-income competitors.”
Hargreaves Lansdown head of research Mark Dampier says: “There are a number of good teams around, so I am not sure this will change the landscape of competition in the bond market. Anderson is a decent manager in what is now a very competitive area of the market in terms of talented teams.”
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