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The top ten global bond managers since Lehmans
Markets
by Philip Haddon on Oct 14, 2010 at 09:46
In the fourth part of our series looking at the top performing fund managers since the demise of investment banking behemoth Lehman Brothers two years ago, we put the spotlight on the global bond sector.
Since Lehmans went under in September 2008, the average return from the 241 global bond fund managers on our database was 18% in euro terms. Over the same period the Citigroup WGBI index rose 19.5%. However, all the top performers in the list below beat these figures by some distance.
1. Stewart Cowley. Funds: Old Mutual Global Bond , Old Mutual Global Strategic Bond, Old Mutual Dynamic Bond.
Two year return: 52.32%
Stewart Cowley joined OMAM in June 2009 after building a strong reputation at Newton Investment Management. In the past two years he has outperformed the average manager by around 34%. As at the end of August, his Global Bond fund had 35.7% of its assets in government bonds, 32.9% in corporate bonds and the remainder in cash and FX. Cowley writes a regular column for Citywire's website.
Joint 2nd. Philip Milburn and David Roberts. Funds: AEGON Strategic Global Bond , AEGON Strategic Bond
Two year return: 47.47%
Fixed income specialist Philip Milburn has spent his whole career with AEGON, while head of retail fixed income David Roberts joined in 2004. The duo have three sources of alpha in their funds: three are top-down – asset allocation, duration and yield curve – and three are bottom-up – ratings allocation, sector allocation and stock selection.
4. Michael Hasenstab. Funds: Templeton Global Bond , Templeton Global Total Return
Two year return: 41.88%
Michael Hasenstab runs around $60 billion in a variety of fixed income strategies from his California base and is consistently one of the world's top performing bond managers. He is co-director of the international bond department of the Franklin Templeton Fixed Income Group.
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- Old Mutual Global Bond A Acc EUR
- AEGON Strategic Global Bond A Inc EUR
- Templeton Global Bond (Euro) I (acc) EUR
- Amundi Funds Global Bond C C
- Amundi Oblig Internationales EUR I
- Aviva Oblig International
- Investec GSF Global Strategic Income A Acc
- Select International Bond EUR
- Select Global Sovereign Bond EUR
- Aviva Investors Strategic Bond SC 1 Inc
Look up the fund managers
- Stewart Cowley
- Cédric Morisseau
- Philip Milburn
- Michael Hasenstab
- David Roberts
- Jean-Pierre Salles
- Werner Gey van Pittius
- Paul Reed
- Brett Diment
- Chris Higham
- John Stopford
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