Investec Asset Management is to launch a global defensive bond UCITS for the firm’s co-head of fixed income, John Stop
Investec Asset Management is to launch a global defensive bond UCITS for the firm’s co-head of fixed income, John Stopford reported Citywire Global this week. The decision comes at a time when global yields remain nominally low with fear pervading the market, yet the spectre of rising interest rates looms large as economies struggle with inflation. The UCITS III Investec Global Defensive Bond Fund will allow Stopford to take both long and short positions to diminish volatility. Investec’s fixed income and currency teams will support Stopford in running the fund. The portfolio will be able to trade emerging market government bonds in local currencies from a basket of 40 to 50 currencies. “We wanted to create a Luxembourg fund that owned government bonds if markets rally, but also take a short position on government bonds if yields go up,” explained Stopford.
