Fixed Income  

Threadneedle switches managers on corporate bond fund

Threadneedle has passed the management of a former LV= Asset Management (LVAM) bond fund from Alasdair Ross to David Oliphant.

Mr Oliphant will take on the £136.9m UK Corporate Bond fund alongside his current £678.1m UK Corporate Bond fund, which he has run since 2003.

The ex-LV product was transferred to Threadneedle in 2012 along with LVAM’s entire fund range, and Mr Ross took on responsibility for the fund at the start of last year.

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Under his management the fund gained 16.8 per cent compared with an IMA Sterling Corporate Bond sector average 15.1 per cent and a 13.1 per cent return from its iBoxx Sterling Non-Gilt index benchmark.

Mr Oliphant manages another Threadneedle UK Corporate Bond fund which has been running since 1995. He has been responsible for the fund since 2003, and in the five years to October 23 it gained 51.2 per cent, in line with the sector average but ahead of its benchmark.