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SocGen joins the bond band

SocGen Asset Management has entered the corporate bond fund market for the first time with a sterling corporate bond unit trust.

The fund will invest in a portfolio of 40 to 50 corporate bonds issued by UK companies. At least 80 per cent of the fund will be invested in corporate bonds with a rating of BBB and above. The remaining 20 per cent will be invested at the discretion of the fund managers. The fund will not invest in junk bonds.

Based in London, the trust will be managed by Paul Rayner and Stephen Peirce. Rayner joined SGAM in 1998 as an economist and fixed-income specialist. He was joined in 2000 by Peirce, who has worked for Teachers Investment Management.

Corporate bonds rated BBB and above offer less attractive yields than funds with a rating of BB or lower but they are more stable than funds that have lower ratings and this can be attractive when markets are volatile.

According to Standard & Poor&#39s, the SGAM UK growth fund is first quartile, the UK inc- ome and European growth funds are second quartile and the technology and Japan growth are third quartile, based on £1,000 invested on a bid-to-bid basis with net income reinvested over one year to April 23, 2001.


Aberdeen offers corporate bond discount

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A transformation as the market widens

Stakeholder pensions represent one of the most significant new tax-planning opportunities for a generation. Okay, so perhaps I exaggerate a little – but not too much. It is easy to think of stakeholder only in the context of simpler products and lower margins. Stakeholder undoubtedly opens up opportunities both for financial advisers and providers to […]

Axa&#39s world of opportunities

Daly says: “I do feel that this product will attract a niche market. It will suit clients and advisers who have an income strategy in mind. It does not detract from Axa&#39s multi manager concept, which offers a multi manager portfolio management service outside of Axa&#39s own funds. This makes good use of Axa/Sun Life&#39s […]

Savills shuts down mortgage website

Savills Private Finance is shutting down its business-to-consumer website less than a year after it was launched. The IFA says the fully-transactional website was unlikely to break-even for at least two years following disappointing sales which failed to meet initial estimates. Savills believes the failure of the website demonstrates that borrowers are not yet […]


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