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SG gets fixed on interest

SG Asset Management has added four fixed-interest funds to its Oeic range following the conversion of its unit trusts to Oeics.

The SG Sterling bond fund aims to provide income by investing mainly in UK government bonds. The SG Long-dated corporate bond fund aims for income by investing in investment-grade sterling denominated bonds with a maturity date of over 10 years. The SG index-linked fund aims to deliver income by investing in UK government index-linked bonds and other government-related bonds. All three funds are managed by Paul Rayner and Stephen Pierce.

Rayner joined SG Asset Management in 1998 from Hambros Bank, where he spent 15 years specialising in fixed income fund management. Pierce started his career at Teachers Provident Society in 1994, where he was responsible for fixed income, cash funds and asset allocation. At SG Asset Management his main responsibility is managing corporate bonds.

The SG international bond fund aims for above average income by investing globally in fixed-income securities outside the UK mainly in government bonds but may invest in corporate bonds. It is managed by Brigitte Le Bris, who joined SG Asset Management in 2000. She previously worked for Credit Lyonnais, Banque Bruxelles Lambert and CDC Asset Management.

Bond markets have performed well relative to equities over the past few years. However, with the global recovery gathering pace and interest rates rising, investors are returning to equities. Bonds may currently look expensive because the prices may have further to fall, particularly if the US starts to raise interest rates.

However, bonds are less volatile than equities, particularly the Government and investment-grade corporate bonds that the SG Asset Management bond funds focus on. While these funds are unlikely to achieve high returns, they could bring diversification to a portfolio that investors may tilt towards equities.


Myners launches mutual review

Paul Myners has today published a consultation document seeking views about the governance of mutual life offices. The consultation will also look at wider issues arising from Lord Penrose&#39s report into Equitable Life that relate to the role of non-executive directors in complex businesses. Myners will examine the role of policyholders and regulation in the […]

Independent view

There has been plenty of press coverage recently on the Pension Protection Fund. Laudable though the scheme is, it seems to have been badly thought through and is failing to give the whole target audience the reassurance it was designed to bestow. We now have actuaries publicly declaring their doubts over the viability of this […]

Beware of the dog

The spate of mergers and acquisitions in the IFA sector has slowed in recent months. This is not surprising as there has been a general lull in completed deals and most of the big players made their strategic moves for the post-depolarisation world some time ago. However, with depolarisation around the corner and new business […]

The future for Isis and F&C

I have long believed the asset management industry is ripe for consolidation. There are over 1,000 asset management companies in Europe. The fragmented nature of the industry is even more apparent at the product level, with over 2,000 onshore open-ended funds and well over 11,000 offshore funds available to UK investors alone. In global terms, […]


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