Wealth Manager - the site for professional investment managers

Register for full access to Citywire’s Fund Manager database, news and analysis. Registration is free and only takes a minute.

Skagen unveils global corporate bond fund

Skagen unveils global corporate bond fund

Skagen has launched a global corporate bond fund that will be managed according to the group’s value style.

The Skagen Credit fund will be run by Ola Sjöstrand and Tomas Middelthon, who will target undervalued, under-researched and unpopular corporate bonds from around the world.

Sjöstrand has been managing Norwegian and Swedish money-market funds since joining Skagen in 2006, while Middelthon has also been working on money-market funds for the past two and a half years.

They expect to build a high conviction and concentrated portfolio, with low exposure to interest rates, and will hedge currency risk.

The team has confirmed that they will also draw on their equity colleagues to identify opportunities. The £4.7 billion Kon-Tiki fund, for example, is co-managed by Skagen co-founder Kristoffer Stensrud.

The Citywire A-rated manager (pictured) has guided the fund to an annualised return of 0.18% over the past three years while its benchmark MSCI Emerging Markets index has lost an annualised 1.96% through the period.

According to its key investor document, the Credit fund’s ongoing charge is 0.8%.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Investment Pulse: the highs and lows of 2014

Investment Pulse: the highs and lows of 2014

This week's Investment Pulse looks back at some of the biggest stories of the year as well as looking forward to 2015.

Play Inside ETFs: Why the US bull-run still has legs

Inside ETFs: Why the US bull-run still has legs

Global equities suffered a sharp sell-off in the third quarter but exchange traded fund investors are continuing to back the US to outperform in 2015

Play Paul Niven: I won't rip up the Foreign & Colonial Trust history book

Paul Niven: I won't rip up the Foreign & Colonial Trust history book

The newly appointed manager of the Foreign & Colonial trust talks about his plans for UK's oldest investment company.

Your Business: Cover Star Club

Manchester wealth firm hires Coutts director for London launch

Manchester wealth firm hires Coutts director for London launch

Former Coutts director Tony Robinson has joined Chartered Wealth Management to head the company’s newly opened London office.

Wealth Manager on Twitter