Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Skandia merges Artemis Strategic Bond mirror into Old Mutual fund

Skandia merges Artemis Strategic Bond mirror into Old Mutual fund

A mirror version of the Artemis Strategic Bond fund run for Skandia is to be closed, with the assets transferred into an Old Mutual product.

The Old Mutual Artemis Strategic Bond fund launched in April 2013, but had attracted only £13 million of assets.

It will now be liquidated later in August, with investors switched into the Old Mutual Monthly Income Bond fund instead.

‘Due to the small size of the fund it was uneconomical to keep it running,’ a spokesperson for Skandia told Wealth Manager.

‘In agreement with Artemis we have chosen to move the assets into the Old Mutual Monthly Income Bond fund that has similar objectives and is an appropriate alternative solution for investors.’

The main Artemis Strategic Bond fund, which is managed by the Citywire + rated team of James Foster and Alex Ralph, contains £768 million. Old Mutual Monthly Income Bond, run by A-rated Christine Johnson (pictured), holds £130 million.

Both funds sit in the Sterling Strategic Bond sector. Artemis Strategic Bond has returned 25.1% over the past three years while Old Mutual Monthly Income Bond has generated 36.7%, both ahead of the peer-group average of 24%.

For more on corporate bonds, visit Citywire's dedicated CPD site

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Related Fund Managers

Alex Ralph
Alex Ralph
8/50 in Bonds - Sterling Strategic Bond (Performance over 3 years) Average Total Return: 15.24%
James Foster
James Foster
9/50 in Bonds - Sterling Strategic Bond (Performance over 3 years) Average Total Return: 14.69%
Christine Johnson
Christine Johnson
Citywire TV
Play CEO Tapes: Buxton to Gilbert - ‘my Glencore quandary’

CEO Tapes: Buxton to Gilbert - ‘my Glencore quandary’

Do not miss the first two minutes of this film as Richard Buxton shares how he has been challenged by a client for owning shares in a certain company.

Play CEO Tapes: the huge opportunities for asset managers

CEO Tapes: the huge opportunities for asset managers

From tech disruption, retirement and poaching, the CEO discuss the opportunities for their businesses in this episode.

Play CEO Tapes: 'we're just a bunch of white dudes sitting here'

CEO Tapes: 'we're just a bunch of white dudes sitting here'

In our brand new series, eight CEOs discuss how the industry could do a better job for female fund managers.

Read More
Your Business: Cover Star Club

Profile: Kevin Doran's formula for success at AJ Bell

Profile: Kevin Doran's formula for success at AJ Bell

From a degree in theoretical physics to teaching and becoming one of the youngest chief investment officers in the UK, Kevin Doran has certainly had an interesting career.

Wealth Manager on Twitter