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View the article online at http://citywire.co.uk/wealth-manager/article/a749841

HSBC GAM global bonds head exits

by Robert St George on May 09, 2014 at 10:41

HSBC GAM global bonds head exits

Guy Dunham has left his role as head of global bonds at HSBC Global Asset Management in London.

In his place HSBC has named Ernst Osiander as head of its global bond team in London. Osiander joined HSBC in January 2012 from FMS Wertmanagement, and between 1999 and 2010 worked at BNY Mellon managing global bond and currency portfolios.

Dunham joined HSBC’s £4 billion fixed income team in 2011 from the Bank for International Settlements, where he had been head of portfolio management. Prior to that Dunham had served as head of UK and European rates strategy at JP Morgan Asset Management and as international portfolio manager at Lazard Asset Management.

At HSBC, Dunham ran several bond funds and his responsibilities on them have now been split between several others.

The £80.5 million HSBC Gilt & Fixed Interest fund is now headed by Kate Morrissey; it has returned 13.6% over the past three years, compared with an average of 17.2% from its Citywire UK Gilt sector.

The £118 million HSBC Global Bond fund has been handed to Osiander; this has generated 5.3% over the past three years, lagging the Citywire Global Bonds peer group average of 9%.

The £100 million HSBC International Sterling Income fund is to liquidate. It has returned 13% over the past three years, while the average fund in its Citywire Sterling Bonds sector has delivered 19.6%.

For more on corporate bonds, visit Citywire's CPD page

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