BMO Global Asset Management has added to its fixed income absolute return strategies with a new global bond vehicle.
The BMO Global Absolute Return Bond fund, to be managed by Keith Patton and Ian Robinson, adds to a range which already includes the Total Return Fixed Income and Sterling Credits Absolute Return strategies.
It will aim for a cash plus 3 per cent return, using a buy-and-hold strategy with the ability to short instruments in order to stay within volatility ranges. The fund will not be restricted by credit rating, maturity, sector or geography.
The sterling retail ongoing charges figure (OCF) has been set at 0.32 per cent, with a minmum investment of €2,500 (£2,098) for the Luxembourg-domiciled Sicav.
Mr Patton and Mr Robinson already manage several vehicles between them, including the F&C Strategic Bond, the BMO Global Total Return Bond and the F&C Corporate Bond funds.
