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Hunt for yield knows no bounds

Multi-manager T Bailey is looking further afield in the hunt for yield and increasing its exposure to equity income and fixed-interest funds which are unconstrained by geography.

The firm believes equity income now offers greater value than it did six months ago. It still favours equities over bonds but believes opportunities are opening up in the fixed-interest market.

The T Bailey cautious managed fund focuses on bond managers who have the full range of opportunities open to them, from gilts to high yield, on a global basis.

Fixed-interest funds within the portfolio include Thames River sterling bond and Baring directional bond fund, the latter being an absolute return bond fund. T Bailey believes absolute return bond funds have to prove themselves because investors and advisers remain sceptical.

Co-fund manager Jason Britton says: “Opportunities to add value from fixed interest are rare so unless you allow managers to go anywhere in the world and hold any type of bond, you are not giving them a fair chance. One of the things we like about the Thames River fund is the managers have the freedom to go anywhere.

“The more controversial choice is the Baring directional bond fund. It had a difficult 2005 but we have had a long hard look at what they were trying to achieve and how they were trying to achieve it and they have made a few amendments.

“We would not advocate all an investor’s bond exposure in Baring directional but, as one of five fixed-interest holdings in our fund, it is doing well for us.”


System problem means NU misses FSA data deadline

Norwich Union is understood to be the only major insurance company which has failed to meet the FSA’s new product sales data requirements. From July 28, providers are required to provide information on whether products were sold on an advised or non-advised basis but NU will miss this deadline as its systems are unable to […]

Regulator’s reviews open up claims, says Cummings

Association of Mortgage Intermediaries director general Chris Cummings has blamed the regulator for the emergence of claim management companies in the mortgage sector. He believes the plethora of announcements into reviews on different market sectors encourages consumers to claim compensation and be put off products, even if no problems are uncovered. Loancheck intends to set […]

Simon Baker retires from Jupiter after 12 years

Simon Baker has retired from Jupiter after 12 years at the Group and in particular as a fund manager and part-time consultant in socially responsible investment capabilities.Following Baker’s retirement and after witnessing growth within the SRI team, certain additions are also being made.As of August 1 2006, Chris Watt, who works on Jupiter’s UK equity […]

This week in Investment

Hot on the heels of the announcement that Jupiter has poached Schroders opportunity fund manager Ben Whitmore, the fund house has achieved a second notable scalp.


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