Fixed Income  

Swip credit manager Mark Munro set to leave

Mark Munro is set to leave Swip on November 8, handing over management of his funds to Roger Webb and Luke Hickmore.

Mr Munro, who joined Swip’s graduate programme in 2006, was an investment director for credit and managed the £1.5bn Swip Corporate Bond Plus and the £160.6m Swip European Corporate Bond funds.

The Corporate Bond Plus fund has produced second quartile returns in both three- and five-year periods in the IMA Sterling Corporate Bond sector while the European Corporate Bond fund is in the top quartile of the IMA Global Bonds sector in one-, three- and five-year periods, according to FE Analytics.

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Mr Munro had taken on sole management of the two funds in July 2013 following the departure of Daniel McKernan to Standard Life Investments.

Swip confirmed that he is leaving to pursue another opportunity within the industry.

Mr Webb will take on the Corporate Bond Plus fund while Mr Hickmore will manage the European Corporate Bond fund.

The two are currently co-managers on the Swip Strategic Bond fund and the Swip Sterling Credit Advantage fund.