Fixed Income 

Bond manager John Anderson set to exit JPMorgan

JPMorgan’s John Anderson could be made redundant after little more than two years as the group changes the management of the Sterling Corporate Bond fund.

The group said in a statement: “We can confirm that we are currently looking at the fund manager coverage of the JPMorgan Sterling Corporate Bond fund. John has been put at risk of redundancy as part of that review.”

The group added that it “remained committed” to the Sterling Corporate Bond fund.

The statement read: “JPMorgan Asset Management constantly looks at the resources it has across any business or product, and fixed income is no different. We have added a significant number of fixed income professionals over the last 5 years, across our global fixed income franchise, and we have continued to add this year.”

The fund has underperformed its iBoxx Sterling Non-Gilts All Maturities index in one, three and five years periods to July 30 according to FE Analytics. Mr Anderson has run the fund since June 2011.

Mr Anderson was previously head of credit at Gartmore.