Aegon Asset Management will rebadge its £120m Global Bond fund as Aegon Strategic Bond. The name change is designed to more accurately reflect the fund’s investment objectives.
Global Bond joined the Investment Management Association’s (IMA) newly-created £ Strategic Bond sector last year. According to Aegon, the sector provides a better fit for the fund, because of its currency hedging and flexible remit.
The fund, which is run by David Roberts, achieved a third-quartile total sterling return for the one and three years ending April 23, according to Financial Express. Performance improves to second quartile when measured over five years.
The change, which is expected to take place on June 29, does not require shareholder approval.